Mar 26

Why location, location, location in real estate is ‘BS’

Location, real estate agent Marc Joseph learned firsthand, is not enough to substantiate buying a house. He lost $600,000 in Florida's 2005 housing bubble, and the way prices are climbing, he's worried the Sunshine State is veering toward another bust.

After many years of unprecedented growth, the housing industry's fortune is changing as various indicators show a significant downturn in the market. Economics correspondent Paul Solman investigates what the shifts in the housing market may mean for economic growth.

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