Sunshine & Blue Skies (Kinda)

Less than 1% of households in Pennsylvania were affected by bankruptcy and/or foreclosure in 2008. According to statistics compiled on MSN Money, the Keystone State is faring better than 35 other states in the country.

PA has been affected by the economy, of course, but we've not been big players in the bubble and subsequent burst seen in some other states. Our real estate growth has been of the slow and steady variety. This is not to say that we aren't experiencing a challenging real estate market, because we are. But our prospects are much brighter here than in many other places.

What Does This Mean For The Pokies?

Here in the Poconos, we are in the unique position of relying on factors in other states to drive our market. New Jersey (#14 on the list) and New York (#33 on the list) feed us with home buyers looking for properties which offer a good commuting location for primary residences, as well as vacation home purchasers looking for weekend getaways. So we will be keeping a close eye on employment numbers going forward. However, even as we are affected by outside influences a little more than in other areas of the state, we remain, along with the rest of Pennsylvania, a much less volatile market than the (imaginary) 'national real estate market' depicted on the news.

Real estate is local <period>

What do you think?