**An Insider’s View of Real Estate Across the Country **
Robert Toll, Chairman and CEO of the leading luxury homebuilder Toll Brothers, Inc, is at the Milken Institute Global Conference.](http://www.milkeninstitute.org/events/events.taf?function=detail&ID=173&cat=GC&EventID=GC07) At a roundtable discussion on real estate he broke down the current housing market situation across the country:
-Boston is in the pits.
-In New Jersey things stink.
-New York City strength on top of strength.
-Pennsylvania burbs are okay.
-Florida, it’s so bad “Death takes a holiday.”
-Texas is good.
-Phoenix right into the bucket.
-Chicago not working.
-Southern California started to comeback but has dipped again.
-Michigan is a place that may never comeback.
-Las Vegas is terrible.
-Washington DC has comeback.
Toll also commented that the housing downturn was unique in that it isn’t accompanied by a recession. He asked, “What happens if there is a recession?” He then answered his own question, “It would be cataclysmic for the housing industry.”
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