Surprising postive economic sign across the street [Archive]

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iris lily

8-5-11, 10:40am

There are 3 new houses being built across the street from where I live. In this economic climate! In the heart of the city! It's miraculous and I am pumped! I used the big lot there for iris overflow for a few years, thinking that nothing would ever happen there. DH and I even offered $150,000 for the entire block, thinking that because the thing was in foreclosure, perhaps we could get it for a song. I was wrong and am so glad I was wrong! I mean, the contracts are signed, this is not some builder's fantasy (there have been plenty of those across the street, plans that were made, marketed, and died.)

For 22 years we've lived in this historic neighborhood surrounded by ghetto and public housing, so this is not a suburban outpost dream wooded lot paradise, this is the gritty city. While this neighborhood became hot during the latest real estate boom, that has cooled off (as has everything) but I guess that our reputation is strong enough to bring in single family houses. New ones. When there are no others being built in the city but for the ongoing gubermnt subsidized junk. Which, by the way, has boarded up windows already, they've not been able to sell them--just 3 blocks away. I am glad that President Obama et al have so much money that he can afford to build new houses and then board them up..getting off on another tangent, so I'll stop there...

But yay for my neighborhood and my block! We are on an upswing!

IshbelRobertson

8-5-11, 11:34am

All we are hearing here today is the doom and gloom re the US economy - and the EU problems with the Euro... now little Belgium seems set to join those Euro countries like Portugal, Spain, Greece, Ireland etc as 'failing' and looking for bail-outs. And let's not even talk about ITALY!

House prices here have remained surprisingly stable - it's office blocks that seem to have been hit, especially those built speculatively rather than commissioned by a company.

freein05

8-5-11, 12:29pm

I am not sure what it means but it is positive for the local job market. We live in timber country and up until this year there was very little harvesting of timber. This year it has been a string of log trucks all day long once the snow melted. They may be selling the timber to China I am not sure but there is a lot of logs moving out of the forest just like in the boom days of the economy.

pinkytoe

8-5-11, 12:48pm

That's good news! I don't think there are any lots in our central area that aren't being built on right now or recently. Business is booming everywhere. So from our vantage the economy is strong. The trend to be central in just about every large city still appeals to those who can pull it off.

razz

8-6-11, 11:04am

IshbelRobertson

8-6-11, 5:16pm

The Chinese have had stern words to say about the downgrading of the American credit rating today, according to the BBC. It's the first time, EVER, that the USA's credit rating has been lowered.

Tradd

8-6-11, 7:32pm

China is buying a lot of lumber! We are looking at harvesting our woodlot. Funny thing, all wood going to China has to be specially treated to prevent any insects or diseases from being transmitted but China can send their 'critters' on shipping pallets to us and destroy our woodlots - the Emeral Ash Borer and new Stink Bug which are causing devastation. Very frustrating!!!!!!

I'm in international shipping on the import side, and solid wood packaging on cargo coming into the US *must* be certified as specially treated. If there are bugs of any kind USDA stipulates the entire container, cargo, packing and all, must return to China (after fumigation, I believe).

JaneV2.0

8-6-11, 8:11pm

I hope it's a trend. My little burb has been promising mixed-use downtown development for years and years. The land is ready and waiting, and so am I. Tappity tappity tap. Tappity tappity tap...