The Sun Belt Lures Northeastern Realty Refugees

“Realty Refugees” are people who face homelessness as a result of the fall of real estate prices. Many of these people have “underwater” mortgages, debts that exceed the current value of the house. It’s getting to the point where some will be forced to sell their houses for whatever they can, then look for a new home.

But even in this depressing situation, there is a lifeline. Many houses in the northeast are still worth far more than comparable properties in southern cities like Charlotte, Atlanta, Austin and Phoenix. Some realty refugees from the north may find they can maintain their standard of living, IF they are prepared to relocate.

For those who have just lost a job, this may ironically make the transition easier!

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