California gets $624 million for high-speed rail project

If you’ve ever wished that you could travel from the Bay Area to San Diego at over 200 mph, you may get the chance within the next decade or so.

According to the Associated Press, California will pocket a whopping $624 million previously designated for Wisconsin and Ohio rail projects.  When those two states elected governors not in favor of expanding rail projects, the Obama administration decided to redistribute the money where it would be more appreciated.  Several other states will also receive funding, including Florida, New York, Washington, and Oregon.

Needless to say, a great many Californian politicians in favor of the rail project are ecstatic.

So, when will all this actually happen?  Well, we don’t really know.  But construction is supposed to start in 2012 – and that’s pretty exciting in itself.  It could also mean some pretty good things for the future of California real estate – not only will the state become even more desirable as a whole, but the construction could create a lot of jobs, which in turn may stimulate buyer-confidence.



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