The 5 U.S. States With The Worst Real Estate
Investing in a place to live is always a very exciting venture. You may not be sure about where you want to move in the U.S., but you definitely know it is time for a change. There are some states still hiding in the dark recesses of a horrible economy. The economy's condition often has a way of creating a less than desirable real estate market.
Nevada Nevada has been having a real tough time. Things do not seem to be improving either. Back in 2007, Nevada lost more than half of its construction jobs, and the economy really took a dip downward. The constant ebb and flow of tourism also tends to keep Nevada down in the dumps, as the state relies too heavily on the transient visitors for income. Florida Much like Nevada, Florida has had its woes stuck in the endless vortex of the hands of tourists. The state weighs too heavily on the income brought in by visitors that never care to stay. Florida also has had a rough time with the loss of many skilled laborer positions in the recent past. Connecticut This state suffers from different issues than the latter, however, still devastating nonetheless. Buying property here could prove to be disastrous due to the ever dragging downward of jobs in chemical manufacturing. The decline of the once many jobs in this sector has affected the economy in ways less than suitable for taking on a new real estate venture. Arizona Beautiful Arizona has its gorgeous Saguaro cacti and endless miles of red rock going for it, however, buying real estate is not the best idea. This state has been suffering economically since the recession in 2007. One of Arizona's main construction companies had recently filed for bankruptcy. That does not sound promising in regards to purchasing property! Michigan Michigan has always had the state's heart in the car industry. Unfortunately, the auto industry is exactly what is holding this state back economically. The height of car manufacturing reached its peak about twenty four years ago. This fact correlates to the purchasing of real estate because of the state's inability to pick itself back up financially. The economy dictates where the promising areas to purchase real estate is. These five states are certainly places that you may want to think twice about if divulging into the process of starting a new life and home. Gennady Barsky is a real estate mogul from New York City.