April 22, 2008
S.C. enjoys construction boom, loathes job losses
Locals, and even those that have been here for 15 years or so, can remember times before the Mark Clark, before Park West, McDonald’s on Coleman, Bee’s Knees, the old water slide, and so many other landmarks that made us happy to be here.
A’las, those good ol’ days are history now, but the same people that came rushing in on the construction boom are a lot of the same ones suffering through the nation’s mortgage crisis right now. Checkout this infograph the NYT’s did illustrating the nation’s foreclosure market.
No doubt it’s tough out there for many, and it looks to get worse over the next year at least going forward. There are good finds for those looking in the right spots though. Sure, it’s all about location, location, location, but Charleston real estate will always be a hot commodity.
Anyway, I think the lesson learned here is to not live outside your means, and always protect yourself financially against the worst of times. Those with safe, secure jobs, are fortunate and should do whatever necessary to make sure it stays that way. Helping out others in need along the way isn’t such a bad idea either, you’ll be glad you did. G/L out there.
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