Good places in America to buy Real Estate
During the eighties and nineties, real estate seemed like a sure fire investment. Real estate prices seemed to climb at a steady rate and there was a belief that this trend would continue for quite some time. That wasn’t the case, however. In 2007, the housing bubble burst sending home prices plummeting in a free fall that would cause significant damage to the housing market, as well as the economy of the United States. It seemed like the market was dead and wouldn’t be revived anytime soon.
The real estate market isn’t completely without a pulse, however. There are still several markets in the United States that are not only alive but are beginning to flourish. While the overall market may still be somewhat unstable, these markets are showing very positive signs of growth and stability. These are the best places to buy real estate in the U.S because they are unlikely to bust and have the best projections for long-term growth.
1. Bridgeport Connecticut
Bridgeport is a city in Connecticut that has a population of around 150,000 people. It is located in Fairfield County and up until recently has been on a two decade long downward spiral due to urban decay and corrupt politics. This has begun to rapidly change, however. This is primarily due to the fact that many New York businesses have transplanted themselves to this city and the political culture of this city has taken a turn for the best. These two factors have resulted in a very stable real estate boom. Real estate prices in this town has risen from an all time median home price low of $470,000 in 2006 to a very respectable median home price of almost $800,000.
2. Vero Beach, Florida
Vero Beach is a small city located in Indian River County, Florida and is known for its very healthy citrus packing industry and its booming tourism industry. It is now being recognized for its very healthy housing market. This is primarily due to its proximity to West Palm Beach but is also due to a number of other factors which include a low cost of living index and low property taxes. Prior to 2007, the median housing price in this city was at an all-time low of $234,000. In 2011, the median house price has risen to over $380,000 and this trend is expected to continue for many years to come.
3. McAllen, Texas
McAllen is one of the largest cities in the very economically viable Hidalgo County, Texas area. At one point in time this city had experienced a shrinkage in the housing market which caused a significant drop in real estate prices. This is no longer the case, however. It is believed that housing prices will continue to at least remain stable, if not rise, due to an increase in housing demand caused by an influx of Hispanics who are climbing the economic ladder. Prior to 2007, the median housing price in this city was approximately $70,000. In 2011, it was over $110,000. This trend is expected to continue for a long time forward.
The above list reflects only a small percentage of viable real estate markets in the United States that are not only considered to be healthy and viable, but are also seen as being on the verge of a significant economic boom. There are many other markets in the Western and Southern portions of the U.S that could give eventually give serious competition to any of the ones on our list.