Best of the Week
Most Popular
1. Trumponomics Stock Market 2018 - The Manchurian President (1/2) - Nadeem_Walayat
2.Yield Curve Inversion a Remarkably Accurate Warning Indicator For Economic & Market Peril - Dan_Amerman
3.China is Now Officially at War With the US and Japan - Graham_Summers
4.Markets Pay Attention Moment - China’s Bubble Economy Ripe for Bursting - 16th Jul 18 - Plunger
5.Stock Market Longer-Term Charts Show Incredible Potential - Chris_Vermeulen
6.U.S. Stock Market Cycles Update - Jim_Curry
7.Another Stock Market Drop Next Week? - Brad_Gudgeon
8.The Death of the US Real Estate Dream - Harry_Dent
9.Gold Market Signal vs. Noise - Jordan_Roy_Byrne
10.The Fonzie–Ponzi Theory of Government Debt: An Update - F_F_Wiley
Last 7 days
Impulse Moves in the Currencies - 15th Aug 19
Best Merlin UK Theme Park Summer Holiday 2018 - Thorpe, Alton Towers, LegoLand or Chessington? - 15th Aug 19
The Essence of Writing an Essay that Must be Understood - 15th Aug 19
Is Solar Energy Rising From The Ashes Again? - 15th Aug 19
A Bullish Bond Argument That Hides in Plain Sight - 15th Aug 19
Jim Rogers on Gold, Silver, Bitcoin and Blockchain’s “Spectacular Future” - 15th Aug 19
A Depressed Economy And A Silver Boom - 15th Aug 19
Moving Averages Help You Define Market Trend – Here’s How - 14th Aug 18
It's Time for A New Economic Strategy in Turkey - 14th Aug 18
Gold Price to Plunge Below $1000 - Key Factors for Gold & Silver Investors - 14th Aug 18
Dow Stock Market Trend Forecast 2018 - Video - 13th Aug 18
Stock Market Downtrend to Continue? - 13th Aug 18
More Signs That the Stock Market Will Rally Until 2019 - 13th Aug 18
New Stock Market Correction Underway - 13th Aug 18
Talk Cold Turkey Economic Crisis - 13th Aug 18
Which UK Best Theme Park - Alton Towers vs Thorpe Park vs Lego Land vs Chessington World - 12th Aug 18
USD is Rising. What this Means for Currencies and Stocks - 12th Aug 18
Hardest US Housing Market Places to Live - Look Out Middle Class - 12th Aug 18
America’s Suburbs Are Making a Comeback - 12th Aug 18
Stock Market US Presidential Cycle, Seasonal Analysis and Economy - Video - 12th Aug 18
Yield Curve Inversion and the Stock Market - Video - 11th Aug 18
Land Rover Discovery Sport 1st Dealer Oil Change Service - What to Expect - 11th Aug 18
How to Setup Webinars and Use Them to Overcome the Barriers in E-Learning - 11th Aug 18
Big US Stocks’ Q2’18 Fundamentals - 11th Aug 18
Dow Stock Market Trend Forecast 2018 - 10th Aug 18
SPX Testing Its First Support Level - 10th Aug 18
Dreaming of a "Comfortable Retirement" on a Public Pension? - 10th Aug 18
The Forrest Gump of All Future Democrat Election Losses - 10th Aug 18
More Uncertainty as Stocks Got Closer to January Record High - 10th Aug 18
Gold and Silver Kill Zone - 9th Aug 18
Even More Cracks in the Gold Dam - 9th Aug 18
Ignore the Stock Market “midterm election year”, Which is “supposed” to be Weak - 9th Aug 18
Stock Market Trend and Volatility Analysis - Video - 9th Aug 18
Tips on Maximizing Small Serviced Offices Space - 9th Aug 18
VIX’s Collapse is Bullish for VIX and the Stock Market - 9th Aug 18
Vestles Platform Offers Several Key Trading Tools - 8th Aug 18
US Stock Markets Higher Until November 2018 - Part 2 - 8th Aug 18
US Stock Markets Higher Until November 2018 - Part 1 - 8th Aug 18
Stock Market US Presidential Cycle and Seasonal Analysis - 8th Aug 18
Is the Stock Market Correction Over? - 7th Aug 18
Yield Curve Inversion and the Stock Market - 7th Aug 18
Stock Market Elliott Wave Analysis and Forecast - Video - 7th Aug 18
Trade War! Win the Economic Hostilities Against the Chinese - 7th Aug 18
Technical Analyst Sees Silver as 'Oversold' - 7th Aug 18
Alex Jones Banned! Will Unapproved Opinions Be Censored Off the Internet? - 7th Aug 18
Gold and Silver Stocks On the Verge of the Next Major Decline - 7th Aug 18
First Time Buyers Need to ‘boost the affordability’ of Their Move Alone  - 7th Aug 18
Long Term Care Homes as an Investment are Heating Up! - 7th Aug 18
The Exponential Inflationary Stocks Bull Market - Video - 6th Aug 18
Land Rover Discovery Sport Oil Change Service Dash Warning Message - 6th Aug 18
Restructuring of Western Economic Power - 6th Aug 18
Stock Market Trend and Volatility Analysis - 6th Aug 18
Stock Market and Economy False Narratives That are Just Wrong - 6th Aug 18
VPN – Is It Worth It? - 6th Aug 18
All You Need to Know About Umbrella Companies - 6th Aug 18
Why China Lost the Trade War Before it Even Began - SSEC Stocks Index - Video - 5th Aug 18
Dow Stock Market Elliott Wave Analysis - 5th Aug 18
Iran's Rial Currency Is In A Death Spiral, Again - 5th Aug 18
IMF Produces Another Bogus Venezuela Inflation Forecast - 5th Aug 18
Gold & Silver Precious Metals Monthly Charts - 5th Aug 18
Time to Position for a Decade-Long Bull Market in Natural Resources - 5th Aug 18

Market Oracle FREE Newsletter

Trading Any Market

America Where to Live, Most Desirable Best US Cities

Housing-Market / US Housing Aug 04, 2018 - 12:21 PM GMT

By: Harry_Dent

Housing-Market

There was an update to the rankings of the most desirable cities to live in the U.S. by U.S. News & World Report.

Colorado Springs sprung into first place for the first time. I’ve been there, and can understand why they picked the place.

It’s beautiful, at the foot of dramatic mountains (Pike’s Peak), close to the glorious Broadmoor Resort, and only one hour from one of the most attractive larger cities, Denver, which comes in at number 10 on the list.


I’ve broken these into two tables so you can read the key stats.

And I rank them in the order that U.S. News & World Report did, not according to affordability.

Do I advise buying in any of these places near the top of the second great real estate bubble since 2000?

No.

Though there are a few possible attractive deals.

But if you’re moving and must buy, there are places that are more affordable and have lower risk than others…

More importantly, the best and most overvalued cities – like San Francisco – will tend to be the better buys when this inevitable second (and final) bubble crash sets in. That’s very likely to begin within the next year.

The original ranking was for the top 25. But I found the top 20 to be inclusive enough of the best places.

There are great things about all of these places, and they all deserve to be on this list. At a point, it becomes a matter of personal preference.

The most affordable – in order of median price to median income valuations – are Myrtle Beach (visit there every year with my family) at 4.0 times, New Orleans at 4.2, Port St. Lucie at 4.4, Phoenix at 5.0, and Nashville, Fort Myers, and Colorado Springs at 5.2.

Austin comes in at 5.5.

Phoenix is a standout for a large city (fifth largest in the country).

While Austin does this for medium-size city, and Myrtle Beach for a small city.

For big city people, New York is the place at 6.1 times, just not in Manhattan.

San Francisco is the worst at a whopping 11.4 times, followed by L.A. at 9.9. They have the highest state income taxes in the country.

Boston and Seattle are also more reasonable large cities at 6.2 and 6.6, respectively.

Chicago is the third largest city, and the most affordable by far, but it doesn’t make this list due to quality of life. Outside of brutal cold, high winds, and heavy crime on the south side, it’s downtown and best suburbs are very attractive.

My choices – given my clear propensity for warmer climates – would be Austin, Charleston, Asheville, and Phoenix.

Sarasota, Florida, which is a high-end retirement community one hour from the Tampa airport, is another place of appeal to me.

Its median house price is $234,000 versus the median income of $42,000, or 6.3 times. They have a Whole Foods, Trader Joes, and a great gourmet food store.

That’s quite good for a city with only 265,000 people. Something you won’t find in Myrtle Beach.

Again, I stress that these are the places you want to buy in the long-term when the crash finally sets in. It could take several years to hit a bottom like the last crash, and prices are likely to crash more like 40% to 50% nationally compared to the 37% last time.

But some great deals could come in the first few years of it.

The more expensive cities like San Francisco, Los Angeles, and Honolulu will still be the most expensive. It’s just that they will drop more, and are likely to be better bargains in the long term…

But don’t expect price appreciation in the coming decades to be anything like it was from 2000-2018.

That’s not likely to ever happen again. At least, not in our lifetimes…

The continual increase of dyers is offsetting buyers, and will for decades to come.

So, buy real estate because you love the house and want to live in that place.

Buy to rent only if you can do so for sustainable and positive cash flow.

Otherwise, don’t buy real estate at all…

The time of buying any real estate to get rich is over!

Harry

http://economyandmarkets.com

Follow me on Twitter @HarryDentjr

Harry studied economics in college in the ’70s, but found it vague and inconclusive. He became so disillusioned by the state of the profession that he turned his back on it. Instead, he threw himself into the burgeoning New Science of Finance, which married economic research and market research and encompassed identifying and studying demographic trends, business cycles, consumers’ purchasing power and many, many other trends that empowered him to forecast economic and market changes.

Copyright © 2018 Harry Dent- All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Harry Dent Archive

© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules