Your Economy (No Politics)

[skono4]

Consider how different those hot markets are from the rest of the country where real estate prices are still constrained by household income. In Pittsburgh and Indianapolis higher foreclosures and delinquencies would imply some problems in the local economy. In Vegas and Miami it's just an example of a risky gamble that went sour. The question will be if those financial aftershocks will be felt universally. The writer of the article's point is that the crashing of those markets is going to paint an ugly picture of real estate and the national economy that really doesn't apply to MOST of the country.