Charleston, SC Outlook?

[Mike Warder]

What are people's thoughts on Charleston, SC's housing, economic, and population trends (including Dorchester and Berkeley)? My wife and I are thinking of buying a third rental property in the area and want to get others' viewpoints before we start putting all of our eggs in one geographic basket. Are companies still moving operations to the area? Population growth projected to continue? Are housing price increases justified and sustainable? 

We continue to be optimistic based on the info we have. That said, I don't want to cherry pick all the positive info without probing any negative trends people aren't talking about. 

[John Semanchuk]

Are companies still moving operations to the area? 

Yes.

Population growth projected to continue?

Yes. 

Are housing price increases justified and sustainable? 

This is much harder to answer...  A lot depends on the overall economy (the local economy is good) and in truth, it's hard to see the forest for the trees when you're in the thick of it.  It seems like it's still heading up for the near term future (2-3 years) and probably more but there are a lot of factors involved.    One thing to be aware of is that there is a massive amount of apts being built in the Charleston area.  It remains to be seen how much that will impact rental prices but it seems like the short supply (which has helped inflate prices) might not be so short in the future.  I wouldn't be surprised to see rent prices level off or even ease back a bit at some point and that will put the damper on prices, imo.   I think it's at least a year away though and I have to add that this opinion is just based on my "sense" of things.   I don't have and special insider information and I'm not a renowned psychic!

I also have long term concerns about climate changes but I think DT is going to fix that simply by not believing in it.  :-)