Blog Tagged: Economy

The lack of affordable housing is a nationwide issue that restrains economic growth by shackling disposable income for families with modest incomes and preventing them from living near the available jobs. The problem is particularly acute in the Charleston area, where housing prices are booming, inventory is tight, and hospitality and tourism are a bedrock of the local economy.

Like all regional economies around the nation, the Charleston metro’s robust economy has skidded nearly to a halt. As one example, pending home sales dropped 11% in April, and listings fell 26% compared to the year before, following a torrid start to the year.