June 4, 2005

Contruction on a roll on both sides of the Mississippi

The Times has a piece on a supposed contruction boom, which cites the construction of the new Rock River bridge between Rock Island and Milan as a large factor allowing developers to snatch up land on the south side of the river. While the headline indicates this boomlet is on the Illinois side, they mention much further down the piece that Iowa Quad City construction is having a similar boom and is expected to outpace the Illinois side despite having similar populations.

Other factors for the growth are cited in the article here.

This is all good, but from what Paul Krugman, a Princeton economist who has a brilliant track record has written in the NY Times, this is part of an unnatural housing bubble that is being artificially supported and which could crash at any moment. (unfortunately, the article has now been archived and requires payment to read in full.)

1 Comments:

At 6/07/2005 6:16 AM, Blogger maybesomeday said...

No comment here? What's wrong - isn't the Chamber and Business the most important do all end all for everyone in this town? Sure could have sworn that was the case a couple months ago...

 

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