Fannie's Not Alone: Pike Real Estate Problems

In addition to Fannie and Freddie's mortgage meltdown, there are other real estate problems going on in Boston: the Turnpike doesn't has the money to fulfill its duties, and can't take advantage of its real estate, either. The pike has a $100 million budget deficit, and Big Dig payments are coming due, but it doesn't look like it'll be able to take advantage of its prime real estate anytime soon. Theoretically, it should be possible to get big bucks for building above Turnpike property, but poor handling of past real estate decisions and the current market crisis (not to mention the expense of building above ground) are making it tough for officials to take advantage. Instead, they'll be raising tolls to pay the bills. One dime at a time!