How is Baltimore doing?

[Jeff S.]

Have tenant applicant from Baltimore trying to sell their home. He says vacancies are high. How is the market? Has it recovered from 2008?

[Ned Carey]

The homeowner market is growing and prices are showing mild appreciation. The market for properties needing rehab for retail is tight. Lots of buyers but they say not enough inventory.

The rental market on the other hand is dirt cheap. No one is financing the purchase of rentals so prices are in the toilet (great for buyers who have cash)

This is a crude generalization as the Baltimore market is a large market.