A Positive Housing Market is Projected for South Carolina

The South Carolina Association of Realtors is releasing an analysis of the economic impact of repealing Point of Sale Assessments in South Carolina.

The study shows:

• 35,000 new jobs per year would be created, lowering South Carolina's unemployment rate by approximately two percentage points, from 9.9 to eight percent. 
• The investment would generate more than $1.4 billion in labor income and more than $83 million in state income and sales taxes.
• Local governments would benefit from the new property taxes which are estimated to be more than $43 million per year based on average millage rates in South Carolina.

To sum it all up, it's all about jobs.  Without jobs, the housing industry is in trouble and more importantly, our fellow South Carolinians and our families are in trouble. Yes, the counties, municipalities and schools are struggling with their own budgets and it is no different than the rest of us struggling with the same economic pressures. This is good news for our state, our economy and the housing market.

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