Wednesday, December 31, 2008

BRAC - Impact on Balt's Housing Market

According to our source, the deadline has been set into LAW: all relocated jobs must be completed by September 2011.

Long story short for those who don't know about BRAC. We're closing down a lot of bases and relocating the jobs to Maryland, specifically Ft. Meade in Anne Arundel County and Aberdeen Proving Grounds in Harford County.

What does this mean for Baltimore and the surrounding counties?
  • Unprecedented growth for the entire state. I've read that the anticipated growth is comparable if not expected to surpass the growth the state experienced during the World Wars.- All the counties are freaking out. I think the original target deadline was 2009, but there was no way that was going to happen. Expanding the highways, public transportation, water supply, schools, etc. is probably a task we can only begin to fathom.
  • All counties are forecasting a HOUSING SHORTAGE! Based on that, I think our current Buyer's Market has got to turn into a Seller's market.

What do you think?

Would love your thoughts.

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