We’re going to need more than positive thinking to make our way through the current credit crunch. Pat provides an excellent summary of some of the factors affecting the global, and thusly, local, real estate market. What we don’t need is false optimism from “leaders;” one of the reasons I like this Royal Bank of Scotland commercial so much. There are many market fundamentals impacting the Charlottesville market – basic supply and demand being two of those.
There is much more to consider in this real estate market than there was in the previous one, such as this story on short sales.