It’s not that often that Charleston is singled out as a perfect place for a real estate investment thus I thank Mr. Rand for his segment on our gorgeous city. We know it, we feel it, so it’s nice to have outside acknowledgement.
Mr. Rand outlines all the attractive factors:
- High Job Growth
- 7.1% Unemployment
- Good Quality of Living
- The “Boeing” Factor
- Back to 2005 prices
I agree with all of that, but I have to say, one little item is VERY misleading. Prior to showing gorgeous photos of historic Downtown Charleston homes, they put up a banner that says:
150K BUYS YOU A NICE HOUSE IN CHARLESTON THAT WILL RENT FOR A PROFIT.
Pardon me while I pick myself up off the floor laughing…Huh? 150K? Where? Certainly not in the Charleston that people think of with those historic homes, or even anywhere in Mount Pleasant, Isle of Palms, Sullivans, or Folly Beach. Or West Ashley, or James Island….Though obviously everyone’s definition of a nice house is different, my guess is that the majority of you think of a standard 1700 sq ft 3BR builders home in a decent neighborhood. In order to get one of those for $150,000, you’ve got to leave Charleston for the more northerly climes of Berkeley and Dorchester counties 30-40 minutes up I-26. Folks, this isn’t really the Charleston that comes to mind, or the Charleston Mr. Rand discusses, now is it? But I thank him for the boost anyway!
As a reminder, check out my post from more than three years ago called Why Charleston Ain’t Cheap. Skip to 1:40 in the video below for Mr. Rand’s Charleston discussion.