Why Pittsburgh is an Excellent City to Buy Investment Properties
There are many more benefits to list. Below you will find a collection of articles to educate you on the many benefits of safely invest your money in Pittsburgh.
- Stable, steady, reliable growth.
- Affordable Prices.
- Low crime compared to other major U.S. Cities.
- Revitalized Oil and Gas industry with the Marcellus Shale play.
- A successful transition from a manufacturing and production economy to now a technology, healthcare and financial hub!
VOTE AMERICA'S MOST LIVEABLE CITY
Original Article Here:
Pittsburgh reinvents itself as the new Hollywood
Number 11 on Forbes Most Affordable Cities
PITTSBURGH (CNNMoney) -- Once known for its steel mills and smog, Pittsburgh is fast becoming the Tinseltown of the East. A generous film tax credit, coupled with the region's diverse landscape and skilled labor unions, have made the city a hot destination for recent productions -- and the firms that cater to them.
In the last three years alone, 24 movies have filmed in Western Pennsylvania, including "The Dark Knight Rises" and "Promised Land," which stars Matt Damon and will be released next year. These films have infused the region's economy with $300 million since 2009 and helped small businesses to thrive, according to Pittsburgh Film Office Director Dawn Keezer.
11. Pittsburgh, PA
MSA: Pittsburgh, PA
Housing Affordability: 83.5%
Unemployment Rate: 6.8%
Median Salary (for college grads): $53,600
Original article here.
Housing Bust? What Housing Bust?
For people living in Pittsburgh, there was never really a home-price bubble to burst
PITTSBURGH—Maybe you should have bought here.
Read the complete Wealth Adviser report .
Home values are actually rising in Pittsburgh, one of the few big metropolitan areas that has emerged virtually unscathed from the real-estate bust. Indeed, since 2000, home prices in the Pittsburgh area have risen about 42%, according to the Federal Housing Finance Agency, which tracks home sales throughout the country.
Pittsburgh's graph line rises steadily through the decade, barely a blip anywhere. Las Vegas's graph, in contrast, looks like a scary carnival ride, ending about 2% lower than where it started (see chart).
"We weren't at the party, so we didn't get a hangover," shrugs Patrick A. Gray, an agent with the region's biggest firm, Howard Hanna Real Estate. There's a lot of pride in that assertion, especially as he tries to persuade me, a New Yorker, that Pittsburgh is a bargain. (Flashback to home: "Honey, I'm going to Pittsburgh to look at houses." Kitchen crash: "What!!!!???")
Full Article here.
What people are looking for when they relocate changes from time to
time. In the 90s, it was a city with low crime. Then, it was places
with good schools.
"These days, you want a job and to make sure you can get a house there," said Bert Sperling of BestPlaces.net, which helps people find the best places to live, work or retire.
Sperling crunched the numbers to find the 10 best cities to relocate
to today. The list takes into consideration all kinds of data points
from cost of living to crime rates, the number of colleges and how
healthy the population is, as well as access to museums, shows, sporting
and other events. Plus, one you might not think of - stability.
"We're a big believer in the concept of stability, where there is
modest, controllable growth," Sperling explained. "Big booms lead to
disruption, and ultimately big busts. Neither is good for livability."
Here are Sperling's Best Cities to Relocate to in America - Why they're the best and who's hiring there.
1. Pittsburgh, PA
Pittsburgh, like Buffalo, has also made a major transformation from an industrial town - in Pittsburgh's case, steel -- into the 21st Century as a hub for education, health care and the arts.
Yet, it's still surprisingly affordable: The cost of living is 12.2
percent below the national average and the average home price is
$116,400, well below the national average of $171,700.
It's repeatedly ranked as one of the most livable cities: The crime
rate is low, it ranks high on both arts and colleges, and it's at low
risk for a natural disaster such as an earthquake, hurricane or tornado.
It's also repeatedly ranked as one of the best sports cities, with the six-time Super Bowl champion Pittsburgh
Steelers, the Pittsburgh Pirates baseball team and the Pittsburgh
Penguins hockey team. You would be hard-pressed to find a city with more
loyal sports fans - a fact that should not be underestimated when it
comes to quality of life.
The unemployment rate is 7.8 percent, well below the national average
of 10.2 percent. Indeed.com has named it the No. 18 job market, with
two applicants for every job available.
Companies That Are Hiring Now: HCR ManorCare, BNY Mellon, PNC Bank, Ernst & Young and Westinghouse Electric Company, according to Indeed.com.
Original Article Here: http://www.cnbc.com/id/39850148/Best_Cities_to_Relocate_to_in_America?slide=11
For Pittsburgh, There’s Life After Steel
PITTSBURGH — This is what life in one American city looks like after an industrial collapse:
Jeff Swensen for The New York Times
Chimneys, now ornamental, mark the remains of the Homestead Works steel mill.
Pittsburgh Post Gazette
United States Steel’s Homestead Works outside Pittsburgh in 1973. In
1980, one out of 10 area workers was in the steel industry.
Unemployment is 5.5 percent, far below the national average. While
housing prices sank nearly everywhere in the last year, they rose here.
Wages are also up. Foreclosures are comparatively uncommon.
generation ago, the steel industry that built Pittsburgh and still
dominated its economy entered its death throes. In the early 1980s, the
city was being talked about the way Detroit is now. Its very survival
was in question.
Deindustrialization in Pittsburgh was a
protracted and painful experience. Yet it set the stage for an economy
that is the envy of many recession-plagued communities, particularly
those where the automobile industry is struggling for its life.
“If people are looking for hope, it’s here,” said Sabina Deitrick, an urban studies expert at the University of Pittsburgh. “You can have a decent economy over a long period of restructuring.”
transition has been proceeding for decades in fits and starts,
benefiting some areas much more than others. A development plan begun in
the 1980s successfully used the local universities to pour state funds
into technology research.
Entrepreneurship bloomed in computer
software and biotechnology. Two of the biggest sectors are education and
health care, among the most resistant to downturns. Prominent companies
are doing well. Westinghouse Electric, a builder of nuclear reactors,
expects to hire 350 new employees a year for the foreseeable future. And
commercial construction, plunging in most places, is still thriving
partly because of big projects like a casino and an arena for the
Penguins hockey team.
While Nation Falls Pittsburgh Still Rising
May 31, 2011–Pittsburgh
-The Case-Shiller home price index reports a 3.6 percent drop in the nation’s home prices in this year’s first quarter compared to that of one year ago. Pittsburgh area median home price rose 2.0 percent and average home price rose 3.8 percent for the same time period.
The metropolitan Pittsburgh market covering Allegheny, Beaver, Butler, Washington, and Westmoreland Counties saw median home price rise from $111,000 one year ago to $113,200 in the first quarter of 2011. The median home price is the point at which half of the homes sold for more and half for less.
Using average home price as the measure, the market looks even stronger with prices rising 3.5 percent from $143,459 in the first quarter of 2010 to $148,859 last quarter.
"While there certainly are pockets within the Pittsburgh market that are seeing prices fall, the region overall continues to see home prices appreciate," said Daniel Murrer, vice president of RealSTATs. "That appreciation was more robust from 2000-2008 and has slowed in the last three years. When a renowned national index finds prices down in 19 of 20 major metropolitan areas and values in Pittsburgh continue to rise, that’s remarkable. It speaks to the strength and resilience of this area’s housing economy."
The last time year-over-year quarterly median home price fell was in March 2009 when median price dipped to $107,250 from $110,000 in the first quarter of 2008.
The attached report includes quarterly sales figures from January 2000 through March 2011. These figures are based on recorded arm’s length sales of homes, townhomes, and duplexes with a price of at least $10,000 in the counties of Allegheny, Beaver, Butler, Washington, and Westmoreland.
-RealSTATs customers have the ability to analyze market trends, study new construction, track foreclosures, and quickly identify sales of comparable properties in the course of determining a property’s market value. -
-RealSTATs gathers its information from deeds and tax assessment records and has informed government, banks, and firms in the legal and real estate industries since 1941.
Families in the market
for a house are shopping at the right time: Nationally, homes are near
the most affordable they've been in 18 years. In the fourth quarter of
2009 housing was 62.4% more affordable than the same time a year
earlier, according to the Housing Opportunity Index, published quarterly
by the National Association of Home Builders and Wells Fargo.