I am constantly asked about our market and asked whether or not is it bad. Well, if we believe the national media, then yeah it's a bad market - but what people do not understand is that when listening to the evening news they are describing the market for the nation as a whole, not Pittsburgh. Let me share these quotes that may enlighten how our market truly is:
Tribune Review: Pittsburgh ranks No. 6 on BusinessWeek magazine's list of the best places to "ride out a recession". Because the majority of local workforce have careers in fields that are unlikely to be affected by an economic downturn, residents "stand a better chance of keeping their jobs, homes and living standards than those in some other parts of the country."
Yahoo Finance: Pittsburgh ranks No. 3 in Forbes Top 5 Least Expensive Cities list. The rankings factor in all costs of owning a home including, taxes, insurance, utilites and fees.
What we can be proud about is the fact that people in this area are, and have always been, very conservative - this fact is what keeps our market 'stable'. We didn't have the peaks and valleys in the house values as other cities in this country did. No matter what the pulse is in the real estate market, we just trudge along steady and stable.
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