Real Estate is Local
September 27, 2008
The old saying “real estate is local
” definitely applies. And the story definitely goes to show that while some areas of the country are getting creamed with market slow downs, huge inventory increases, and very high double digit rates of depreciation – a great deal of many other communities are enjoying only very slight down turns (and in some areas, they are seeing decent rates of appreciation). Its a great example of why even though many persons want to see things from a national perspective, ultimately real estate comes to the local level.
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Real estate is so local it is neighborhood by neighborhood. It can even come down to parts of neeghborhoods.