Pittsburgh has Potential to Become Up and Coming City for Real Estate

Pittsburgh, PA Real EstatePittsburgh, Pennsylvania has become one of the “cities to watch” according to AIRINC.  Several oil companies such as Hess, Marathon, and Murphy Oil have been diverting from their foreign assets, and moving to Pennsylvania, Ohio and other U.S. parts.  These oil companies are putting Pittsburgh, PA in a good spot for an expected $5 trillion in U.S. shale oil and other “unconventional” energy investments, according to IHS.  The company believes that with these advances, 3.5 million American jobs will be supported by 2035.  According to CNNMoney, energy companies from China, France, Spain and other locations are also investing in U.S. oil and natural gas rich areas.

Pittsburgh’s population steadily declined from 1950 to 2010 from about 677,000 to about 306,000.  Job sources declined as the population dropped.  However, over the past few years, it has been reported that the population has started to grow and has started to transform from a manufacturing area to a more comprehensive market.  The city hosts many large companies including U.S. Steel, PPG Industries, PNC Financial Services, and Google.

With the future intended investments and the population growth in Pittsburgh, it is projected to become an up and coming city.  As real estate investors in Pittsburgh, are you seeing any adjustments in the real estate industry that is associated with these investments and changes?

As a real estate lender for Pittsburgh, PA, we are excited to hear the growth of the city and look forward to helping future real estate investors. If you are interested in learning more about what ReCasa Financial Group offers to their investors, please call 614.221.6770.