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Local Economy Category Archives
We’re Number One!
19 April 2007 | Local Economy | 6 Comments
Prince William, including Manassas and Manassas Park, is number one in mortgage foreclosures in Northern Virginia. That’s not even in percentage terms, that’s in gross numbers. While Fairfax County has more than twice the number of housing units as Prince William, it has 28% fewer residential units in active foreclosure as of April […]
Washington BizJournal Defends Prince William
10 April 2007 | Local Economy, Prince William County | 1 Comment
While at least one Washington Post reporter thinks little of the economic development in Prince William County, the Washington Business Journal has a different view in their recent editorial “Fear Not, Prince William Is On The Rise.” Noting tremendous growth in high-end communities in the Gainesville area, along with significant investments in commercial property […]
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Municipal Revenue Forecast Update
26 March 2007 | Local Economy | 13 Comments
Recent major stories of difficulties in the sub-prime mortgage market and the impact that the local residential market is having on the immigrant community have validated to some degree my earlier reporting and projections of the local economy. Now that there’s new local data coming in, it’s time to update these projections. Unfortunately […]
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Woe Is Prince William?
9 March 2007 | Local Economy | 14 Comments
Courtesy of Doug over at Below The Beltway, we see the Washington Post has tried to apply its own standard of quality of life towards Prince William County, and predictably it has come up short according to their yardstick. According to the Post, if you don’t have a Jaguar dealer or a Nordstrom’s, it’s […]
The Tax Policy Ghost Of 1812
1 March 2007 | Local Economy, Virginia Politics | 8 Comments
While the recent news of Virginia earning the number eight spot in a ranking of states adapting to the “new economy” is going to give Virginia politicans something to crow about, buried within the rankings is a troubling statistic: that Virginia is the fourth-worst state in terms of entrepreneurs as a percentage of the population. […]
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Foreclosures Threaten Real Estate Recovery
5 February 2007 | Local Economy, Illegal Aliens | 13 Comments
The hoped-for rebound in local housing prices in Prince William County may have to wait a little bit.
This weekend a story appeared on Bloomberg which talked about a jump in subprime mortgage defaults that was observed in November, 2006 to the highest levels seen since 1999. With about 20% of all loans in the […]
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Municipal Revenue Outlook For ‘07-’08
7 January 2007 | Local Economy | 2 Comments
Prince William County, like many other Northern Virginia jurisdictions, has seen a significant boom-bust cycle in real estate market that appears to be easing somewhat. The residential supply graphs for Prince William, Manassas and Manassas Park all show a situation that is improving, but the continuing oversupply is clearly evident given the ratio of […]
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