Braddock PA article in Ready Made article (California, Portland: mortgage, credit)

[Tallysmom]

Brent just brought home an issue of a magazine called Ready Made (Instructions for Everyday Life)...

The article is about what John Fetterman is trying to accomplish in Braddock PA. It sounds daunting... and exciting. (And not available online)

I did find his website...

Braddock Pennsylvania - Ruins

This is sort of what I'm looking for... a community of artists who are artistic and not just commercial. But it still sounds like the place is ... not very nice...

Does anyone else think this stands a snowball's chance in he... well? Any other places that are begin rehabbed in this manner, but quietly, with no blowhard at the helm? I would assume Fetterman is a controversial figure... and not afraid of that.

[PPG]

See, I told you guys not to ever drive down Braddock Ave.

[MAyor 15104]

So, you don’t think I have a snowball’s chance in hell? Hey, fair enough. To be sure, we have numerous challenges to contend with that extend beyond they pale of what construes a “distressed community.” I suppose the other option would be to let them bulldoze the town under, salt the earth, and move to Portland OR.

In the meantime, I’ll keep at it. Thanks for the support, though.

[Geeo]

From what I have seen and heard of Mayor Fetterman, if anybody can do it, he can. He put his money where his mouth is, he bought and renovated a space in Braddock, he invited artists in to use empty buildings as studios and work spaces, and I believe bands can even rehearse in some of the buildings. He promotes Braddock every chance he gets, and he gains attention doing it. Lots of towns in the Mon Valley need a person like that. Braddock has a long way to go, but now there is a spark.

[Tallysmom]

Originally Posted by MAyor 15104

So, you don’t think I have a snowball’s chance in hell? Hey, fair enough. To be sure, we have numerous challenges to contend with that extend beyond they pale of what construes a “distressed community.” I suppose the other option would be to let them bulldoze the town under, salt the earth, and move to Portland OR.

In the meantime, I’ll keep at it. Thanks for the support, though.

Just asking if there was a snowball's chance, sir! I think what's being done there sounds exciting -- that's urban pioneerism!

Please keep us posted!

[Hopes]

Maybe Hell will freeze over by the time you're planning to relocate here, Tallysmom!

I do hope it works out for Braddock. It's such a shame to see these old river towns deteriorating.

[Tallysmom]

Originally Posted by Hopes

Maybe Hell will freeze over by the time you're planning to relocate here, Tallysmom!

I do hope it works out for Braddock. It's such a shame to see these old river towns deteriorating.

Talking about hell freezing over -- my little dollhouse in CA was worth nearly 500K 2 years ago is in the not so high 3's now -- 375K.... and falling....

NOTHING is selling in my neighborhood. All the low end mortgage money is gone gone gone.... ain't no one writing paper in a not so desirable area... But in some ways we're lucky -- only one house on our street is a repo... the others for sale are long term owner occupied....

[TRO Z]

To say all the low end mortgage money is gone gone gone and no one is writing paper in less than desirable locations...That couldn't be further from the truth..

Right here--Right Now Today...It's easier than ever to obtain a mortgage BELOW prime..Zero Down.. 0 Points...Brokers are actually giving credits to buyers for obtaining mortgages through them...The only catch, you must have great credit...

What is gone--Thank God is, sub prime lenders giving people with 580 credit scores 300k to 500k with no money down...No assests, Below average paying jobs..And letting them use stated income mortgages...

You didnt have to be an industry analyst to see the down fall was going to come....How can a couple with one income at 70k annually and 2 kids afford a 600k mortgage...INSANITY...

The developers in Cali, Florida, and other sunshine states let's say...Built a giant mouse trap for people AND BAITED THEM IN WITH FAKE CHEESE...

[Tallysmom]

Originally Posted by TRO Z

To say all the low end mortgage money is gone gone gone and no one is writing paper in less than desirable locations...That couldn't be further from the truth..

Right here--Right Now Today...It's easier than ever to obtain a mortgage BELOW prime..Zero Down.. 0 Points...Brokers are actually giving credits to buyers for obtaining mortgages through them...The only catch, you must have great credit...

What is gone--Thank God is, sub prime lenders giving people with 580 credit scores 300k to 500k with no money down...No assests, Below average paying jobs..And letting them use stated income mortgages...

You didnt have to be an industry analyst to see the down fall was going to come....How can a couple with one income at 70k annually and 2 kids afford a 600k mortgage...INSANITY...

The developers in Cali, Florida, and other sunshine states let's say...Built a giant mouse trap for people AND BAITED THEM IN WITH FAKE CHEESE...

Tro z -- I am in the Bay Area California, and our starter homes (in nicer neighborhoods) are often jumbo loans. The more stringent lending rules being imposed are making it near impossible for these homes to sell. The only reason our median house prices haven't fallen is because our expensive homes are still selling. Although now we're hearing about larger home mortgages not getting funded even with 30% down and lots of money in the bank, just because the person hasn't been on the job long. So this is trickling up.

And one of the other things that happened with the house price run ups is that our incomes haven't moved up with the house prices.

Out here, there were 3 month periods of 35% price run ups -- salaries just CAN'T keep up with that.

So our lower income houses or starter homes are still too expensive for the people that would buy them to afford them.

I have to agree -- this is the beginning of the shake out -- and it's going to long and it's going to be UGLY.

Which is why we've decided to do some renovations... it'll help the house sell when it's time, and make it more liveable for us for now...

[Chautauquast]

Originally Posted by MAyor 15104

So, you don’t think I have a snowball’s chance in hell? Hey, fair enough. To be sure, we have numerous challenges to contend with that extend beyond they pale of what construes a “distressed community.” I suppose the other option would be to let them bulldoze the town under, salt the earth, and move to Portland OR.

In the meantime, I’ll keep at it. Thanks for the support, though.

Go Braddock go!
I, too, am working to revitalize a struggling neighborhood.
Average housing price: $34K. And a stone's throw from downtown.
Folks don't understand what history has to offer in our neighborhoods.
I respect Broddock's Mayor's attempts and applaud the REALLY great parties he has!