Welcome to another edition of Isaac Toussie’s real estate insights. Today Isaac Toussie will be talking about an upstate town that once rivaled New York for industry and commerce. Derived from the native term “Uppu-qui-ipis-in” which means “reed-covered hut by the water,” Poughkeepsie today has grown beyond huts into a permanent city of some forty-three thousand individuals. Poughkeepsie is in fact the name of both a town and a city, both municipalities right next to one another because the city actually used to be the western part of the town (and, incidentally, was an independent village in its own right before that). But for legal purposes, and such services as fire and police, the two communities are often viewed as one, with a total population of more than seventy-five thousand people. The town is actually home to much more people than the city, which counts only some thirty-thousand-plus residents.

Consequently, it’s expected that their respective real estate markets will be quite different. A closer examination of the latest demographical figures shows that the town is much more affluent than the city, with a median income of over fifty-five thousand dollars a year as opposed to well under thirty-thousand for the city. Indeed, the Town of Poughkeepsie is able to provide for its own emergency services, which are staffed by fully paid civil servants, and not volunteers as is the case with many a suburban community.

As for the City of Poughkeepsie, it’s been severely battered by the economic malaise afflicting the rest of the state and the country as a whole. Average listing price in the two-week period between January 20, 2010 and February 3, 2010 fell almost thirty thousand dollars, to two hundred and fifty-one thousand dollars, though almost five thousand of that has been “recovered” as of February 10. However, the actual median selling price, based on two hundred and thirty-four homes sold, is almost thirty-three thousand dollars short of the median listing price, at barely two hundred and twenty thousand. Average price per square foot in the city is one hundred and thirty-two dollars.

Poughkeepsie was once the “Queen City of the Hudson,” but has suffered economic setbacks for the past twenty-plus years and was just beginning to recover in fits and starts when the recent recessionary woes struck. This has obvious implications for local realty, both residential and commercial. The Town of Poughkeepsie, however, seems rather more vibrant in comparison. International Business Machines, Incorporated, was once the most notable employer around, and while the company still maintains a campus in town, most of its production has been moved elsewhere. Vassar College in the City of Poughkeepsie is arguably the most notable employer now.

Should you purchase any Poughkeepsie property? Well, there’s no way it’s reclaiming its glory days, so the local real estate market is never going to be a hot one. But if your goals are more modest, and especially if you live in the city yourself, of course, Poughkeepsie property can be a solid investment.

Now even with all that said, however, we must end on this note, that of the legal disclaimer: Neither the author nor the publisher shall be deemed liable for the contents of this article, which constitute mere opinion only and should never in any way be misconstrued as professional advice of any kind whatsoever! Always consult the relevant professionals, properly licensed and/or otherwise qualified, when making business decisions of any financial consequence.

An exam glove is used by medical professionals to conduct examinations without contaminating the sample or patient as well as themselves. Most such exam gloves used to be produced out of rubber latex, but the chances of allergic reactions has made the likes of neoprene and nitrile, the materials of choice for many modern medical exam glove. It’s almost impossible to tell them apart at first glance, yet each presents its own unique characteristics that make some individuals prefer one over the other.

The standard exam glove these days is made of synthetic rubber that tends to cost a lot more than organic latex alternatives, a concern in these recessionary times when even well-known hospitals like Saint Vincent’s in the Bronx, New York can shutter because of financial difficulties.

Furthermore, something like nitrile rubber has inferior strength and flexibility when compared to organic rubber, though it’s much more resistant to oils and acids. Neoprene, on the other hand, resists burning better and will frequently be found within the weather stripping applied to fire doors as well as inside the examination gloves of a healthcare provider.

Exam gloves were first instituted with William Stewart Halsted’s 1890 practice of using rubber gloves that protect medical workers from skin exposure to carbolic acid, a necessary sterilizing agent. Carbolic acid, or phenol, was adopted originally by Sir Joseph Lister for use in antiseptic surgery, but skin irritation lead to the Goodyear Tire and Rubber Company’s invention of a rubber glove that could withstand the organic compound.

Interestingly, latex gloves are still much preferred in surgery nowadays because of the fine control and greater sensitivity they offer. The one exception to this fact is the polyisoprene glove, but these are about twice as expensive as their natural latex counterparts, and as mentioned previously, hospitals have now become extremely cost-sensitive environments.

Though the existing economic catastrophe has also disrupted Connecticut realty, industry experts like Isaac Toussie believe that there’s no danger of oversupply in Connecticut mostly due to the state’s inventory levels being rather constant, probably because of Connecticut’s housing escaping the kind of speculation other places have seen. Such a happy situation is probably also on account of the fact that Connecticut hosts some with the most expensive land anywhere in the country after California, with above three percent of them priced around a million dollars as of the turn of the century. Southwestern Connecticut lies within the greater New York City metropolitan region, but areas further away, such as those communities in the northeast, are better described as luxury retreats for the monied classes, given median home values in the multiple of millions.

There can be a lot of “upside” to Connecticut realty. Condominium inventory in Connecticut are actually at steady ranges despite the financial downturn of late, which is really an extremely positive sign that bodes well for the overall real estate market there. Connecticut land ought to be fine pretty soon. Investing in commercial properties there is frequently a good bet even in this economy. Slow but steady growth has marked the history of Connecticut property for a while. In truth, in spite of the current financial meltdown these days, the State of Connecticut has not witnessed a lot of overly dramatic shifts.

The Danbury Fair, the state’s largest shopping mall, is a case in point. Founded in 1947, it has three levels, forty-seven shops, and nearly four hundred thousand square feet of retail space. Industry experts like Isaac Toussie are convinced that once the New York City Metropolitan Area recovers, retail outlets like this one in Connecticut will follow right along. Indeed, three of the state’s eight counties, which also happen to house most of the population, make up the Tri-State Region of New York, New Jersey, and Connecticut.

Even with such proximity to a world-class metropolis like New York City, it should be noted that Connecticut was never that hot a real estate market, so it shouldn’t be surprising that Connecticut has endured the housing scandal and its subsequent crisis much better than many other states. Indeed, once-industrial and then dilapidated Waterbury now attracts newcomers, most notably Orthodox Jewry, a welcome development that has brought new life to the local economy.

Certainly, Connecticut has in fact done well when compared to states like Florida, Nevada, and even California, for sales are already reported to be running at about 70% of 2008 levels, and though median prices have moderated they are at least not nose-diving! Yes, mortgages are harder to come by, but a lot of this is on account of the long-overdue correction of slipshod lending practices in the first place and is actually, in the long term, a positive development for Connecticut’s economy.

Having said all that, readers are still advised to consult those properly licensed and/or otherwise qualified when it comes to making business decisions of any financial importance as neither author nor publisher shall be held liable for such information as has been presented so far, which only constitutes mere opinion and should under no circumstances be misconstrued for financial advice of any kind whatsoever!