Pittsburgh home prices hold despite nationwide slump

Self explanatory. We already knew this. Here is the link:
http://www.pittsburghlive.com/x/pittsburghtrib/news/s_603429.html

Downtown Pittsburgh Real Estate: A Hotbed of Activity

Offices are full. Hotels are full. Condos are selling out. New construction everywhere you look in Downtown Pittsburgh. Sounds like a comeback to me! Or is that a renaissance? Anyway, read this P-G article for all the details.

http://www.post-gazette.com/pg/08363/937860-28.stm

Are Bad Economic Times Good for Pittsburgh?

Interesting premise in this P-G article. Could the stability of the local job and real estate markets bring some talent back to town?

http://www.post-gazette.com/pg/08361/937758-294.stm

Pittsburgh is a Real Estate Safe Haven

Pittsburgh was named by Kiplinger's as one of the Top 10 Real Estate Safe Havens in America. Here is a link to the article and to the Pittsburgh profile.

Main article:
http://www.kiplinger.com/tools/slideshows/RealEstateCities/1.htm

Pittsburgh profile:
http://www.kiplinger.com/tools/slideshows/RealEstateCities/6.htm

No Recession in Pittsburgh...

...as evidenced by these two articles. Again, the Pittsburgh economy and jobs outlook is better than the rest of the country.

First, a Trib article about the Pittsburgh region ADDING 5,000 jobs in October while the rest of the country faces hard times.

Then, a PG article talking about how Pittsburgh area manufacturers are holding up well in this economy compared to the rest of the country.

(Note: The same day this article was published, Sony announced they were closing their Westmoreland County plant. So, while most of the news is still good- no region can come out of this economy completely unscathed).

More Good News for the Pittsburgh economy...

Trib Articles:

Amid economic downturn, bright spots for jobs in Pittsburgh
http://www.pittsburghlive.com/x/pittsburghtrib/business/s_600194.html

Pittsburgh Tech companies create 343 jobs
http://www.pittsburghlive.com/x/pittsburghtrib/news/breaking/s_599358.html

Au Revoir Pittsburgh, Bonjour Paris!

Delta to begin nonstop flights from Pittsburgh to Paris in June. Great from both a business and leisure perspective.

http://www.post-gazette.com/pg/08311/925813-147.stm

Pittsburgh #1 in PA for Raising Kids...

...according to Business Week magazine. Here is the Trib's coverage of it:

http://www.pittsburghlive.com/x/pittsburghtrib/news/mostread/s_597969.html

Pittsburgh Jobs picture beats National Average again

Absolutely amazing, isn't it? Even Johnny Positive isn't THIS optimistic in this economy.

The Pittsburgh region gained another 7,000 jobs last month year over year. The region's unemployment rate is at 5.4% compared to the national average of 6.1%. You can read more details in the Trib article below, but this is an interesting tidbit from it: "The increase in residential employment could be an indication people from other regions are coming to the Pittsburgh area in search of work"

http://www.pittsburghlive.com/x/pittsburghtrib/news/s_595471.html

As a side note- in typical, negative Post-Gazette fashion, here was their headline: "Dip in jobless rate here may be shortlived". I'm not going to help them by giving the link here.

Pittsburgh's Mellon Square receives national recognition

The American Planning Association has named Mellon Square in Downtown Pittsburgh one of 10 Great Public Spaces for 2008 as part of the association's Great Places in America program, launched last year. Get more details in this Post-Gazette article.

http://www.post-gazette.com/pg/08282/918372-100.stm

What bad economy? Pittsburgh businesses still thriving

We've heard many times about how the Pittsburgh housing market has been immune to the crisis that grips the rest of the nation. But what I think has been very under reported- especially by the Post-Gazette- is that the region's economy as a whole and the jobs outlook is much more positive than most people think and is doing much better than most regions in the country right now. While the rest of the nation comes to the realization of job losses and high unemployment, here are some of the business stories reported in Pittsburgh over the last few weeks. And again- mad props to the Trib for being the leader in reporting on this.


Pittsburgh region ranks in Top 20 in freight movement, Pittsburgh Trib, October 25, 2008

Rostraver firm to add 1,500 jobs, Pittsburgh Trib, October, 24, 2008

Pittsburgh rises as convention location, Pittsburgh Trib, October 20, 2008

Office vacancy rate drop optimistic, Pittsburgh Trib, October 19, 2008

Pittsburgh Airport mall leads nation in per-passenger spending, Pittsburgh Trib, October 18, 2008

Starkist Tuna moving HQ back to Pittsburgh, Pittsburgh Trib, October 7, 2008

Pittsburgh gets another great review- this time in the San Jose Mercury News

In a travel review titled "Livable Pittsburgh steps from haze" the San Jose Mercury News talks about Pittsburgh's transformation as well as the wealth of outdoor opportunities.

Pittsburgh workforce getting younger

If you've been following the real demographic trends locally and not buying into inaccurate, negative media hype, then this should come as no surprise.

The Trib reports that the median age of working Pittsburghers dropped from 40.5 in 2005 to 39.3 in 2007, according to figures released today by the Census Bureau. Here is a link to the article.

http://www.pittsburghlive.com/x/pittsburghtrib/news/mostread/s_589592.html

Pittsburgh: #4 U.S. city in Tech Job Growth

The Post-Gazette reported today that Pittsburgh is #4 in the country in tech job growth. This is according to the leading tech job website Dice.com.

Hartford, Conn. led the way with 30 percent growth, followed by Cincinnati, 28 percent, Miami, 23 percent, Pittsburgh at 22 percent and Charlotte, N.C. at 21 percent.

Pennsylvania Comes in #1 in Building Biotech

If you follow the local economy and business sector then this won't come as a shock to you, but Pennsylvania has been named the top state in the country in 2008 for building its biotech industry, according to the Pittsburgh Post-Gazette.

This honor comes from Business Facilities Magazine's 2008 Rankings Report. Of course, this isn't ALL because of Pittsburgh. It is a statewide ranking and Philly is also a biotech powerhouse. The combination of two strong biotech markets in the state helped us beat out California, Massachusetts and Texas as well as every other state.

Pittsburgh one of few cities where hotel industry has been growing

In another story about Pittsburgh defying nationwide downtrends, the Pittsburgh Post-Gazette reports that the local hotel industry is growing rapidly while the industry in other markets is receding.

The Post-Gazette reports that in addition to an explosion in new hotel properties being built locally, demand for hotel rooms in Pittsburgh is rising as well. The PG quoted Smith Travel Research as saying that of the 100 largest cities in the country, only 11 saw their hotel occupancy rates rise. Pittsburgh was one of those. Pittsburgh had the ninth highest increase in occupancy rates at 1.3 percent.

This coincides with previous reports documenting the increase in tourism to Pittsburgh and the good reviews it gets from national travel writers (read my two recent posts about good travel reviews from The New York Times and USA Today).

Need a job? Come to Pittsburgh

OK, time to throw out the old perceptions and look at reality. While the economy in the rest of the nation takes a tumble, Pittsburgh's economy continues to stay stable. It's been reported many times that the Pittsburgh housing market bucks all of the downward trends nationally, but the numbers show the Pittsburgh job market is healthier than most as well.

The Pittsburgh Tribune-Review reports that in June the Pittsburgh region added 5,600 jobs, the fifth consecutive month of job gains in the region. That compares with over 463,000 jobs lost nationally since the beginning of the year. Although the job creation is still small, it is better than 16 of the top 40 regions.

Pittsburgh: Who knew? USA Today Loves the 'Burgh

On the heels of a positive review in the New York Times travel section a couple weeks ago, Pittsburgh has scored again with another great review in the USA Today travel section. Here is the link: http://www.usatoday.com/travel/destinations/2008-07-17-pittsburgh_N.htm

Enjoy!

Stores Galore in Pittsburgh! Rapid Expansion

Is it me or did the entire retail world just wake up in the past month and say "Oh yeah, Pittsburgh exists"? You would think that a region with a metro population of 2.3 million would have been a retail expansion target sooner.

But anyway, the news continues to roll in almost daily about new stores and restaurants opening in Pittsburgh. Here is a sampling.

- National Retailers Continue Expanding in Pittsburgh, Pittsburgh Trib, July 4, 2008

- 75-store Outlet Mall to open in Washington County in August, Pittsburgh Trib, July 4, 2008

- Dunkin Donuts, Moe's Southwest open in Market Square; Sante coming, Pittsburgh Post-Gazette, June 30, 2008

- More Upscale Retailers Opening first Pittsburgh locations at Ross Park Mall: Burberry, Louis Vuitton, Michael Kors, Tiffany, Nordstrom, BCBG and True Religion Jeans, Pittsburgh Post-Gazette, June 24, 2008

- The Wine Loft to open at Southside Works, Pittsburgh Business Times, June 2, 2008

NY Times Travel Writer Gives Pittsburgh a Great Review!

You probably thought I abandoned this blog. What? It's only been 11 months since my last post! Anyway, hopefully I will find time to do this more often.

The New York Times travel section has a great review of Pittsburgh for this Sunday's edition, calling it "hip", "cool", "surprisingly pretty", and a "gleaming cultural oasis" among other things.

Enjoy the fireworks tonight!

http://travel.nytimes.com/2008/07/06/travel/06hours.html?em&ex=1215316800&en=5c2fb77dc8273df1&ei=5087%0A