What is a Sand State?
According to the FDIC article titled “The 2009 Economic Landscape” (published 04/27/2009):
The historic boom and subsequent decline in the nation’s housing market has been a defining feature of the current recession. The housing downturn has been most acute in four states—Arizona, California, Florida, and Nevada—that had experienced some of the highest rates of home price appreciation in the first half of the decade. While these states are not all contiguously located, their similar housing cycles and abundance of either beaches or deserts have led some analysts to label them “Sand States.”
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