Baltimore Grows

Interesting article today on the Washington Business Journal. According to some the government’s planned takeover of $700 billion in bad mortgages will eventually lead to an increase in the area’s economy. They point to the post-911 response and savings and loan crisis of the 80’s, as other major events that spawned increased government spending and local jobs. As most of us know the Baltimore-Washington area is often lumped together as one metropolitan area. The economies of the two cities tend to be linked as they share commuters from local counties, and even from within the city limits. So in theory, what’s good for the macro DC economy is also good for the Baltimore metro area’s economy.

David Kessler of accounting firm Reznick Group P.C. had this to say - “It’s going to create a whole new industry of services for all of us, for the banking sector, for commercial real estate, the advisory and brokerage sector, legal and accounting…” “We’re going to see a boost in the local economy as a result of that.”