Pittsburgh real estate update (Mars, Penn: wages, foods, company)

[svband76]

Originally Posted by Higherho

Yea my wife and I are re doing our kitchen because the previous owners, while they did leave the original wood and the original cabinets, thank goodness, they made the rest too modern. Sooo, we’re going to fix that and bring it back to the old Tudor charm is needs We were like “we need to buy this home, to save it from these modernization creeps” lol. A guy died in our house (house is 1900) so every time we speak, we say “We’re going to fix this frank, don’t worry” haha.

Thank you for doing that. funny story too.

[BUILD PENN SQUARE]

ok so the fox chapel luxury property market is on fire

this listing dropped today - $4,950,000 for a 4 bedroom house or $1.23 million per bedroom

no pool or tennis court - similar location to the one that just sold for $1.5 million per bedroom



https://www.realtor.com/realestatean...8_M33721-01969


and already i'm fixing the design by removing the arbitrary angle and squaring off the driveway to make a proper motor court

[BUILD PENN SQUARE]

This newly-constructed Fox Chapel home is for sale for almost $4M (photos)

https://www.wpxi.com/news/local/this...HGGC7YCPAK6BU/

"A home is for sale in Fox Chapel for nearly $4 million.

The home, located at 409 Fox Chapel Rd., is listed for $3,995,000 with Julie Rost of Berkshire Hathaway HomeServices. It has five bedrooms, four full bathrooms and one half bathroom.

The home is newly-constructed by Lindal Cedar Custom Homes and architect Aris Gorges. It is situated on an over-two-acre property."

[svband76]

Yeah even Fox Chapel is going to ugly new development hell. Obviously a changeover in government who since the beginning fought for class. Now ugly homes, sprawl, housing developments infesting the neighborhood.

[BUILD PENN SQUARE]

phase 2 of liberty east - the phase that is never going to happen because phase 1 is a failure

https://libertyeastpgh.com/the-site/

[SteelCityRising]

Originally Posted by BUILD PENN SQUARE

phase 2 of liberty east - the phase that is never going to happen because phase 1 is a failure

https://libertyeastpgh.com/the-site/

If they would pivot phase two from office space to residential space then phase two would be a smashing success. I am not sure why everyone is still looking to build office space at a time when the non-essentials are still working from home because they are afraid of COVID.

[Knepper3]

I don't think its because of COVID anymore but I do agree, most people are not looking to come into the office. You do not need to be in an office as an employee for most jobs but I do think office time is important for a business to be successful. The right balance is still being figured out and I think the answer just depends on each industry/business model.

Look at remote education during COVID, it generally dropped scores everywhere by a good amount because you loose something. Same goes for new employees.

[eschaton]

Originally Posted by SteelCityRising

If they would pivot phase two from office space to residential space then phase two would be a smashing success. I am not sure why everyone is still looking to build office space at a time when the non-essentials are still working from home because they are afraid of COVID.

Another developer would build residential there, but I don't think the Gumburgs/LG will for various reasons.

Originally Posted by Knepper3

I don't think its because of COVID anymore but I do agree, most people are not looking to come into the office. You do not need to be in an office as an employee for most jobs but I do think office time is important for a business to be successful. The right balance is still being figured out and I think the answer just depends on each industry/business model.

Look at remote education during COVID, it generally dropped scores everywhere by a good amount because you loose something. Same goes for new employees.

The reason that "back to the office" failed is a tight labor market and high inflation.

Essential workers got big wage increases post-pandemic to keep up with COL. Employers decided that instead of giving white-collar workers increases which kept pace with inflation they would keep the pandemic-era perk of working from home. Every time they tried to shift back the practice, they found that a significant number of employees would leave for other firms, so those that wanted to return to full in-person work found themselves SOL.

Basically this means we're not going to see a potential return to normal in regards to office work until the next major recession (I don't think the small recession they keep projecting that gets pushed further and further back is going to cut it).

[Moby Hick]

I think they keep hyping the recession to scare people. Anyway, I didn't mind going to the office and still don't. But the genius of work from home is that it makes it easier to achieve my main goal in life, a coastal salary and a Pittsburgh cost of living.

[svband76]

Human beings need to socialize face to face. Being holed up at home in PJs got old real quick. The physical and mental health of workers went into the toilet. It behooves us all to get back into an office away from home.