Copyright Baltimore Sun
While we all hope that Julian Baron’s super-optimistic forecast for Baltimore comes to pass, skepticism is warranted (“The next decade belongs to Baltimore. Here’s why,” Nov. 9). Our favorable location hasn’t stopped our decades-long decline, and it alone won’t fuel a turnaround. Meanwhile, the economic policies that have caused a disinvestment crisis and fueled population flight remain impediments to a true revival. And the apparent affordability of housing here is partly an illusion. The city’s tax rate on residential and business property is more than double that available a few miles away in the surrounding county, and that will be reflected in monthly mortgage bills. Every $100,000 a prospective home- or business-owner borrows to invest in the city carries a mortgage payment (for principle, interest and taxes) that is $95 (or 13%) higher than in the county. Insurance and utility charges are usually significantly higher in the city as well. These disadvantages, plus higher crime rates and lower-quality schools, drive down property values and make it harder for city residents to build equity and wealth, and for city businesses to survive. Mr. Baron is quite correct that Baltimore has many attractions and enormous potential — but the city will grow and prosper only if we get our policy act together. — Stephen J.K. Walters, Baltimore
