Alabama's real-estate markets are doing better than most of the country
By Gena Bolton, Sandestin, Destin and South Walton 30A Real Estate
(eXp Realty LLC | CRS, GRI, CLHMS | SoWal 30A Your Beach Awaits | )
Marlon G. Cook, a regional manager in the Federal Deposit Insurance Corp. in Atlanta, told those at Tuesday's Coastal Economy Outlook conference that Alabama's financial and real-estate markets are doing better than most of the country. Cook predicted mortgage credit would "remain under tremendous pressure until the end of the year and into 2009." But, he added, Alabama is doing "relatively well" compared to its neighbors in Florida and Georgia, and when compared to the nation. "We find good news with ThyssenKrupp, which will bring in about 3,000 jobs," he said. The German steelmaker is building a $3.7 billion steel plant in north Mobile County that is set to open in 2010. Consumer spending is better in Alabama than in the rest of the Southeast, according to Cook. Mortgage credit condit...
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