Do you think we're seeing a housing bubble? (Pittsburgh, Waynesburg: neighborhoods, buyers)

[Goinback2011]

Originally Posted by _Buster

See the original post - this is about the city, not the county or metro. You may want to correct your post. But you probably won't.

Where is your evidence that the city is exempt from the county wide trend?

[Lost_In_Translation]

Originally Posted by pittsburghaccuweather

I agree. The new trend is the suburbs with their own downtowns and business districts. I am also a believer that it is bad to concentrate all of the jobs in the city limits especially in Pittsburgh’s case. The public transportation and road network needs a lot of work. It is good when businesses setup in the suburbs. Not everybody has good accessibility to the city. Imagine that if this new growth was more spread out. It could help areas like McKeesportport and drop prices significantly in these chic areas. We are one metro we need to thrive as one to move forward. I’m glad we have the airport area, cranberry and south pointe. More businesses in the burbs and surrounding towns is a good thing.



Census bureau blames Pittsburgh city mostly for population losses. The county appears to be losing less than the city.

City pinpointed as most responsible for Allegheny County's population drop | Pittsburgh Post-Gazette

Keep in mind these aren’t census counts, they’re estimates drawn from permits and construction, so they get revised often with other data. 2016 got revised up, which makes 2017 look bad, but 2017 may get revised up with more data. The only true census will be in 2020.

[pittsburghaccuweather]

Originally Posted by Goinback2011

Where is your evidence that the city is exempt from the county wide trend?

I don’t have problem with people rooting for their hometown. This country is great and even better you can post on this board your opinion. But there is a point when facts either support or deny your opinion. These were articles posted by locals that did the research. I have no problem disagreeing with somebody, but if you are willing to stoop low to calling somebody a troll that’s when facts need to be stated. In this case facts trump a talking point of another.

On another posting we were talking about jobs in Pittsburgh. One poster stated Pittsburgh was full of good paying financial jobs. I pointed out with official bureau of labor statistics that those jobs decreased in Pittsburgh the most of any occupation. Then I was labeled a troll. All I did was state facts. The person did not like it.

FYI This is all free information on the bureau of labor stats websites. It isn’t a big secret. You can see the Pittsburgh jobs broken down by sector, wage and how it compares to the average of the rest of the nation. You can do this for any city. I encourage anybody to research wages I’m Pittsburgh and jobs available compared to the nation.

Anyways thank you for posting facts and not calling others names.

As far as housing I stand by my assessment combined with preservation pioneer that it is more tastes, availability of trendy neighborhoods and reluctance to move in a suburb or a place we can afford. Pittsburgh does not have a housing bubble. Overall I think we lack affordable housing stock that is move in ready. Lots of vacant or neglected property needing refreshed. It is still easier to demolish and build new, but I get pioneers point. And I think one of the negatives with the amazon bid is just that. Sure we once had a city population more than double what it is now. That said do we have move in ready condition housing throughout the city? If you drive around and look it is a no. There is a lot of work to be done. To rehab and refresh or tear down and rebuild costs more than building new on vacant land. On the other hand I think if Amazon did come it would relieve pressure on existing trendy areas and create more trendy areas in the city and burbs. You may see prices come down as. Result. Think about it.

Originally Posted by Lost_In_Translation

Keep in mind these aren’t census counts, they’re estimates drawn from permits and construction, so they get revised often with other data. 2016 got revised up, which makes 2017 look bad, but 2017 may get revised up with more data. The only true census will be in 2020.

You are right. Estimates are just that, but that is the most recent data to go on now. 2020could tell a different story one way or another. Pittsburgh was overestimated in 2009 for what 2010 would be. They missed the mark by 5,000 or so.

One trouble spot is the workforce. There are 11,000 less folks in the Pittsburgh metro workforce this time than last year at the same time. That is a huge decline and troublesome. It could mean a lot of things and one being people moving elsewhere for work. We will see though lots of time between now and 2020 for census numbers

[SteelCityRising]

Originally Posted by Paul2421

i'm guessing the poster's smugness is due to some denying housing prices are rising and the chicken coming home to roost, if you will.

Yes. Love seeing some of the same people dismissing my former concerns about the “Great East End Housing Crisis” getting a taste of their own medicine as now they, too, can’t afford what they want in the neighborhoods they want to live in.

In 2020 come hell or high water I’m buying my first home in Elliott. It has a dollar store, dive bar with great take-out food, a pretty park with nice views, and a new breakfast joint all within walking distance. It’s safe. It’s affordable. It’s walkable to Downtown. No, it’s not the East End, but that’s okay. Seeing some people on here with sticker shock that $300,000 doesn’t get you much in the East End these days is laughable since I said this was going to happen on here years ago, and everyone laughed at me.

[Knepper3]

Originally Posted by SteelCityRising

Yes. Love seeing some of the same people dismissing my former concerns about the “Great East End Housing Crisis” getting a taste of their own medicine as now they, too, can’t afford what they want in the neighborhoods they want to live in.

In 2020 come hell or high water I’m buying my first home in Elliott. It has a dollar store, dive bar with great take-out food, a pretty park with nice views, and a new breakfast joint all within walking distance. It’s safe. It’s affordable. It’s walkable to Downtown. No, it’s not the East End, but that’s okay. Seeing some people on here with sticker shock that $300,000 doesn’t get you much in the East End these days is laughable since I said this was going to happen on here years ago, and everyone laughed at me.

You could be the one to turn Elliot around. You can buy cheap there but there is a reason. My grandparents and aunt lived right on the edge, walk down the hillside and you are there in a few min. My entire family grew up in that spot of Crafton Heights. I didn't (My mom left for NJ before I was born) but I came back every summer and usually holidays. Both of my grandparents funerals were in Elliot and my Grandpa went down the club there every week. Location wise it is great but many of the properties are run down, my relatives cars have been stolen several times from their driveways and shootings are sadly more common than other areas. So affordable yes, as long as you don't want to resell near term. Pretty park, I guess only drove by but wouldnt visit as there was a shooting there during my grandfather's viewings. Walkable to downtown? I guess but everything is technically walkable if you have the time, that would be a heck of a walk. Safe though? Depends on what you are comparing it against.

[gladhands]

Originally Posted by SteelCityRising

Yes. Love seeing some of the same people dismissing my former concerns about the “Great East End Housing Crisis” getting a taste of their own medicine as now they, too, can’t afford what they want in the neighborhoods they want to live in.

In 2020 come hell or high water I’m buying my first home in Elliott. It has a dollar store, dive bar with great take-out food, a pretty park with nice views, and a new breakfast joint all within walking distance. It’s safe. It’s affordable. It’s walkable to Downtown. No, it’s not the East End, but that’s okay. Seeing some people on here with sticker shock that $300,000 doesn’t get you much in the East End these days is laughable since I said this was going to happen on here years ago, and everyone laughed at me.

No one dismissed your claims of escalating East End housing prices. People called you out for feeling entitled, as a transplant, to live in the most expensive part of town on a lower-middle class salary.

[gladhands]

I decided to look at recent sales and prices are all over the place. It’s looking like some of these listings are going well under asking price, where others, are inexplicably going over.

This one listed at 700k, and went for $525k (a great deal).
https://www.redfin.com/PA/Pittsburgh...m_content=link

This sold for its exact asking price of $425 (yuck).
https://www.redfin.com/PA/Pittsburgh...m_content=link

This went about 50k under asking price

https://www.redfin.com/PA/Pittsburgh...m_content=link

This one is not as nice of a house, needs more work and came in over asking price:
https://www.redfin.com/PA/Pittsburgh...m_content=link

I’m starting to think that people don’t know how to set prices because inventory is so low and there are so few comparables. At the same time, buyers don’t know what to pay, for that same reason.

[Knepper3]

That is true or sellers think this market can get them much higher prices, some might also just be testing. No need to move but if they could get X they would. Depending on the area it is hard with limited comps. I mentioned somewhere I even had an appraiser say they have to factor that in or else many homes wouldnt even approve.


Keep in mind some people are just nuts and some realtors will list at any price just to get the listing.

[jea6321]

Originally Posted by Knepper3

Keep in mind some people are just nuts and some realtors will list at any price just to get the listing.

every seller thinks their place is worth more than it is, and every buyer thinks everything is overpriced.

but yes, most agents will list at any price just to have more signs and online presence of their name. Easier to get someone to lower the price after its been sitting stale on the market a few months than to convince them to list lower from the beginning.

[Knepper3]

Yes to a point, personally my wife and I won't. It also points to an agents lack of knowledge and sales skills to have a house sitting forever. I drive past one house for sale from the same agent the last year, makes you wonder.