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States with the highest unemployment rates (between 6.6 and 5.2) were:
Alabama
Alaska
Arizona
California
Connecticut
DC
Georgia
Illinois
Louisiana
Mississippi
Nevada
New Mexico
North Carolina
Oregon
South Carolina
Tennessee
Washington
West Virginia
Out of those, only six had unemployment figures over 6 percent and none were over 6.6 percent.
I'll concede DC only because of the government jobs. Boston falls under NY (which I mentioned) since they're close together (somewhat). Miami has a weak economy only supported by tourism.
DC has one of the highest unemployment rates in the US, ironically.
I lady I worked with 26 years retired and they sold their mobile home in the SF Bay Area and were able to buy a 10 year old brick home in Alabama on 2+ acres with a shop and pool...
It will soon be 2 years... while she likes the house... she is desperate to come back to the Bay Area... her husband has family in Alabama and has settled in... I don't how she can come back... the mobile home they sold two years ago is a lot more expensive today... she is 58 and having a hard time finding work and has been told she had a California accent.
Interesting anecdote but for every anecdote there's one with an opposing viewpoint.
Texas is full of Californians who have settled in nicely while making major upgrades in housing. I could say the same about North Carolina, Georgia, Tennessee, etc.
Alabama has some nice areas but as much as I love the American South, I wouldn't voluntarily choose Alabama. That being said, happiness basically comes from within.
Tell your friend to take a vacation to California with the savings she's got due to the lower COL in Alabama.
The DC metro area has one of the lowest unemployment rates in the U.S.
The city proper has a high rate because of a section of residents with low incomes and low educational attainment levels.
I'm not talking about surrounding areas in Virginia or Maryland. I'm talking about the city of Washington DC, which has one of the highest unemployment rates in the US.
Another thing to consider is that many buyers today aren't willing to buy the homes that actually match their budget. A 1200 square foot starter home with one bathroom and linoleum floors and FORMICA countertops? HELL NO.
Interest rates are at record lows. There are tons of houses out there, and yet people keep buying and building brand new ones.
Sounds like a great flip opportunity.
Buy that starter house, rip out the linoleum & formica & maybe the cabinets, install tile, granite, new cabinets, new paint, new landscaping, new appliances, then sell it for a profit.
Out of those, only six had unemployment figures over 6 percent and none were over 6.6 percent.
...but ...but ...those government unemployment figures are a conspiracy! Don't you read the C-D Economics message board?
Unmotivated, unskilled workers will have a hard time buying a home anywhere but the lowest cost parts of the country. Nobody ever said it was a right for people to be able to earn the income to afford housing where they grew up. I lived my entire adult life "away" because that's where the job opportunities were. A married couple making $15.00/hour can afford housing in the low cost parts of the country. I know plenty of people who were chased out of metro-Boston who are living well in the Carolinas. The entire history of the United States is one of economic migration. Ellis Island. Covered wagons. Some succeed. Sometimes, you have the Donner party.
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