Housing boom and bust
Phil Izzo at WSJ reports on a Fed report highlighting the stability of the upstate NY housing market as a reminder that much of the US did not experience the housing boom and also hasn't experienced a bust. But what I find to be more interesting is that the report indicates the Charleston real estate market is considered to be an area that had a boom but no bust. Of course, our boom was not at the levels experienced in California, Florida, Arizona or Nevada and while we have experienced a pullback, once again, it has not been as sharp a decline that many markets around the country have seen.
