Even aside from my unrepresentative friends, Philadelphia is generally pretty acyclical so a national downturn might not touch here much. My housing inspector said that his business dropped off a little bit for awhile but then bounced right back, so real estate isn't dead here. In center city there's a bit of a glut as I think a lot of developers simultaneously saw those dollar signs and there are a lot of properties which came on the market at about the same time. It's all priced way to high; when the prices drop they sell.
