Baltimore, also known by many as the Charm City, has been living up to its name in regards to the newfound influx of young professionals. While the city, as a whole, has been steadily losing a portion of its population over the years, many young professionals have been flocking to Baltimore in droves. One of the reasons for the steady climb in the young professional population seems to be the less expensive cost of living that Baltimore presents when compared to Washington, D.C. The rebound of Baltimore’s economy is directly tied to continued trend in growth amongst young professionals. The purchasing power of the millennials coming to Baltimore is said to see an increase in the upcoming years, as increased wages throughout many of the dominant professions steadily rises.
The young professional population has directly impacted the need for apartments within the city, and as a result, many real estate developers have begun refurbishing old buildings, turning them into luxury housing and condominiums. In order to cultivate the continued population growth in Baltimore, the city has been putting a major emphasis on rebuilding the transportation system. The expanded and improved transportation system will help to ease the commute for those working in downtown Baltimore, while also helping to boost the rate of growth in the metropolitan area due to increased efficiency for suburbanites. With the creation of an improved transportation system throughout the city, with it, comes a decreased need for regular parking expenses. One of the major upsides of the population boom in Baltimore among young professionals is the fact that the cost of living is not expected to increase drastically.
Todd Lubar has been working in the real estate industry throughout Maryland for the better part of two decades. He graduated from Syracuse University in 1995 which a B.A in Speech Communication. Mr. Lubar has held several positions at Crestar Mortgage Company and Legacy Financial Group, and in 2005, he became the Senior Vice President with Charter Funding. Today, he is the President of TDL Ventures. Apart from his experience in real estate, Mr. Lubar also has an extensive background in credit and finance and also operates and owns a demolition company. Check out his website toddlubar.com
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