Once again Kansas City comes late to the party and serves as the victim of economic chicanery rather than the beneficiary.
Take a peek at the hype and the inevitable downside . . .
"The new $350 million KC Streetcar extension along Main Street is expect to be completed in 2025. The project is attracting development proposals, including the redevelopment of the former Katz Drug Store at Westport Road and Main Street in the background."
It sounds great . . .
Meanwhile . . .
THE AMERICAN ECONOMY CONTINUES TO FALTER AND GLOBAL MARKET SHIFTS CAUSE REAL ESTATE DEVELOPMENT TO STALL!!!
Something to consider . . .
It may seem unfair (it is) but a multi-billion dollar default of a Chinese real estate company has a greater impact on American real estate markets than most local developers understand.
Again . . . There's precedent for all of this . . .
Remember that our EPIC entertainment district opened right into one of the worst economic disasters the world has ever seen.
And just a couple of years ago . . .
Developers for the KC convention hotel bragged about victory over their political rivals . . . And then they opened into COVID and a paradigm shift to telecommuting and away from big gatherings.
And so . . .
KC is typically hurt by bad timing. The toy train, clearly isn't an exception.
Read more via www.TonysKansasCity.com links . . .
Today's housing market is changing so fast, it's hard to keep up. To help, we've kicked off "How's the Housing Market This Week?" In this new series, we highlight the latest facts and figures to know right now.
'A perfect storm is brewing': A senior economist says home prices are primed for a 2008-style crash as housing construction booms and demand gets crushed by rising mortgage rates
The housing market is starting to cool as mortgage rates rise. José Torres of Interactive Brokers warns that steep declines in home prices are ahead. Torres expects the declines to play out over the year ahead. For José Torres, supply and demand dynamics in the housing market are moving in such a way that creates a perfect recipe for home price declines.
Many economists believe the U.S. (and much of the world) will fall into a recession later this year. The primary cause will be inflation. There have been some radical solutions suggested. Larry Summers, a prominent economist who has been Treasury Secretary and President of Harvard, recently commented to Bloomberg: "The right thing to do is [...]
The US real estate market is slowing down. It's because inflation and interest rates have priced out many potential buyers. As demand wanes, there are three key signs competition is easing. Over the last few years, purchasing a home has felt a lot like competing in a triathlon.
Today's high inflation has triggered aggressive moves from the Federal Reserve which has many economists worried that we're headed toward a recession. These concerns also come at a time when home prices are at an all-time high and mortgage rates are rising, causing home shoppers to weigh whether the
Developing . . .