EDC Vision August






NEWS STORIES

Glens Falls still a hot spot
After more than four years of record gains in the housing market, sales of existing homes have slowed to a crawl all across the U.S. According to MSNBC news reports, the biggest drop is in the Northeast. By region of the country, sales fell 3.5 percent in the Northeast and 2.3 percent in the South last month. Sales were unchanged in the West and the Midwest.

However, anyone driving through Glens Falls will get a very different picture. The "for sale" signs go up, but not for long. That's because the Glens Falls MSA (which includes Warren and Washington Counties) is attracting people from throughout the state.

"When you have a strong home market, it means your economy is doing well," said EDC President Len Fosbrook, interviewed on the subject by Capital News 9. "This is something we've been working towards for a number of years.

"We've been tops, or close to the top, at creating jobs for the past three to four years. We also have low unemployment," continued Fosbrook. "People come into the area to fill those jobs … and the numbers show that although local housing prices have risen, they still remain relatively more affordable than markets closer to New York City."