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I feel sorry for anyone who decided to move there based on this list. The homes might be cheap, but for a lot of reasons far worse than the RE collapse.
That is the worst possible photo they could have choosen for Dayton, OH.
Come on anyone who has spent any time in the midwest knows that Detroit is dirty, looks abandoned and has terrible city governance (including schools). So I repeat as said earlier Who the hell would want to live in Detroit? or Memphis for that matter.
Cheap cost of living doesnt = a good place to live.
Hey!! anywhere would be better than living here in las vegas! eewww!! grossss!!! city!!! would love to move and as soon as we can we are on the road!!...
Aside from the fact that Detroit is the capital of the rust belt I don't see any reason for other people not to live there.
I can speak to many cities in Florida. There are some areas where the prices are 1/3 of what they where 2 years ago.
Many are investing or purchasing their first home. However, in some of these areas with greatly reduced home prices jobs are not easy to come by right now, as alot of these foreclosed homes were lost due to job loss.
If you are looking to purchase a retirement or investment property, Florida is a great bet.
If you already have a job this is a great time to purchase your first home.
Property values will go up eventually.
Sorry to discriminate, but while on a trip driving on Chicago suburb expressways (non rush hour traffic, no less) reminds me why I would never purchase a residence in any of your top ten cities. However, for dwellers in these cities, buy baby buy, ASAP (of course, well within your earnigs potential).
ExxxonMobil and American Airlines are the big employers in the DFW area... Well, I know one person working for AA and none working for ExMo, but in a survey of my son's high school last year, 23% of the kids had a parent working for Lockheed Martin. I guess they forgot about them... Oh, yeah, and that Barnett Shale thing on the Fort Worth side, too...
In contrast to most of the markets listed, DFW has plenty of jobs. We didn't have a housing bust because we didn't really have a housing boom. Prices stayed sane through out all the craziness that gripped the rest of the country. My house has actually appreciated 3% since I bought it three years ago- how many parts of the US can say that??
I don't think it is fair that my house in rural Southeastern Colorado has lost nearly 2/3 of it's appraised value in just the past five years. There are single family homes offered for sale in this town for as little as $12,000, but they are NOT selling. There is NO work here anymore, you need an income to pay a mortgage, even on a cheap house
Most of these cities are run by status quo Liberals and have high crime rates...do the math.
You could have at least found a more recent picture of Pitsburgh! My Word! That's Three Rivers Stadium there on the North Side!!!!