Hurricane Katrina and the housing market
The more I read about Hurricane Katrina, the more terrifying she seems. This article provides an efficient doomsday scenario of what may happen in the aftermath, most specifically regarding oil prices. Port Fourchon ... the nation's premiere oil and gas support services facility--and right now…
Great. (please note the sarcasm)
Federal Reserve Chairman Alan Greenspan on Friday cautioned Americans against thinking the value of their homes and other investments will only go higher, saying "history has not dealt kindly" with that kind of optimism. From BusinessWeek. Maybe now people will listen and begin regarding houses…
Brief market update
Our market is shifting, not bursting, not hissing, but shifting slightly. Many properties seem to be staying on the market for a couple, if not several, days instead of hours. For a good doomsday analysis, read this RealEstateJournal article. How to prepare for a downturn…
Chicken or the egg?
One of the perennial, if not daily, questions concerning development - build first and then develop needed infrastructure, or build the infrastructure in anticipation of future, even impending, development? Old Trail was sent for approval this evening from the Albemarle County Planning Commission (pdf). At…
Outstanding news
The U.S. Department of Agriculture's Rural Development office has awarded a roughly $19 million loan to International Broadband Electric Communications Inc., an outfit specializing in delivering broadband Internet over existing power lines. Customers of Central Virginia Electric Cooperative in 11 Virginia counties are expected to…
What a shame …
The Supreme Court on Monday refused -- as it was expected to do -- to reconsider its controversial ruling expanding the power of local governments to seize private property for economic development. The action came as the Justices issued several routine orders while the Court…
Realtor Stats
There are approximately 1100 Realtors in the Charlottesville area. Only 175 have had more than 5 listings this year. Of the top 10 listing agents eight are either new construction or condo conversion agents. It is phenomenal how many agents have had only one listing…
Morning thought
Do people not walk or bike places because the infrastructure is not there or do they not build the infrastructure because folks don't want to walk or bike places? What impact will gas prices have on development in the short- and long-term? I would love…
Are they kidding?
The words gall and audacity don't seem to be appropriate. Referencing the Kelo case. From the Fairfield Weekly - With language seemingly lifted straight from The Goonies , NLDC's lawyers wrote, "We know your clients did not expect to live in city-owned property for free,…
Evening Links
I love this quote; it is particularly descriptive of much of the bubble talk we read every day. He uses statistics as a drunken man uses lampposts--for support rather than for illumination. - Andre Lang In this vein - From Business Week's Hot Property blog…