Tuesday, March 10, 2009

The Good Bad News From Pittsburgh

If you think I look bad, you ought to see the other guy. The grim news is that Pittsburgh should shed 25,000 jobs over the course of 2009. Unemployment is expected to near 8 percent. And that's exactly why you should think about moving to Southwestern PA:

"We have seen a much more tame downturn in the region from the recession ... and I think the recession here this year will be less severe than the national trend," [PNC Financial Services Group Inc. Chief Economist Stuart Hoffman] said during an economic and real estate forecast program sponored by the Grubb & Ellis Co.

This depression won't spare any city (even Houston), any part of the country. The issue is which places will rebound first and lead the nation's recovery. I'm still optimistic that Pittsburgh will be among this group, as long as there is a new mayor.

The face of New Pittsburgh?

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