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Higher fee, condo concerns and lots of construction

If you rely on city water, plan on paying about $30 more a year for it. The Sun reports today that the Board of Estimates approved the increase to cover the cost of sewer upgrades:
The rate increases would have a direct effect on customers in Baltimore and the surrounding counties that use city water, including Howard, Anne Arundel and Carroll counties.

Also today, Lorraine Mirabella has a story about the new condo market. Figures from Delta Associates suggest that condo developers are feeling the effects of borrowing restrictions and nervous buyers:

Contract cancellations have begun to show up in the sales numbers in metropolitan Baltimore, which had a net gain of just 13 condo sales in the city and Baltimore, Harford, Howard and Anne Arundel counties in the first three months of the year, Delta said.

And you know -- I completely forgot to mention that I had a story yesterday about the new "State of Downtown" report, which had interesting statistics about the pace of construction. Though market conditions have stalled some major projects in the planning stages, there's lots of construction activity:

Developers finished nearly $550 million in downtown Baltimore construction projects in the first four months of the year - more than twice the value of developments completed in all of 2007.

That's according to the Downtown Partnership of Baltimore, which detailed a continuing boom in activity in its newest "State of Downtown" report being released today. About $2.7 billion in construction is under way now, despite the housing slump, credit crunch and economic slowdown, the group said.

Comments

I just discovered a wonderful new website that calculates how much of a bubble each region is sustaining. You can merely type in a zip code and get the data. More important, they are a non-biased group, with nothing to gain either way, unlike the NAR. Their website is:

Housing Meltdown

What about the middle class!! Remember the average working stiffs- the teachers, the office workers, etc. If the developers focused on building quality housing for us they'd be assured to always have a market of willing buyers. But they only care about the highest 10% of the market. No one is building for the average worker and we are the majority!!
A person earning the average wage in Maryland cannot afford the average home price. Stop the insanity!

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About the blogger
Jamie Smith Hopkins, a Baltimore Sun reporter since 1999, writes about the regional economy. Her reporting on the housing market has won national and local awards. Hopkins is a Columbia native and has lived in Maryland all her life, save for 10 months spent covering schools in Ames, Iowa.
She trained to become a wonk by spending large chunks of time as a geek and an insufferable know-it-all.
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