ND must have the best economy in the U.S (Grand Forks: real estate, how much)

[Minneapolis Guy]

Originally Posted by thomjoe

I won't disagree ND is a great state in many respects, but there are many faults. The state just does not promote higher paying jobs, plain and simple. I moved from Fargo to Minneapolis over 20yrs ago to find a job, period. Granted it has gotten better in Fargo, but the same job I have here in Minneapolis would only pay 1/3 in Fargo what I make here My house is homesteaded, unlike ND, and I have everything I want close by. (Trader Joe's, Costco, Ikea, etc). Home prices in Fargo are not far behind the Cities in some respects. OK, live in Moorhead, but you are still making far less wages overall than you would in MSP. That is sad.

Thats exactly my issue with moving there. Everything costs almost the same in Bismarck, yet the wages are way lower, I don't get it. Its not like it is any cheaper to go out to eat, to buy a car or any other consumer goods. In fact its more expensive for some things due to the lack of competition.

And housing, its right up there with Minneapolis prices, crazy!

Its not a bad place to live, they just have to do something about those wages. Surprising the wages are so low with such low unemployment as well. Some fields do pay well such as nursing and electricians, right up there with Minneapolis wages, but most white collar jobs do not pay well at all.

[jjbradleynyc]

Originally Posted by Fischer_girl

You know... before I moved out of ND in Feb... I never felt the economy struggle. Infact..I would believe..or be willing to bet..that most North Dakotans (myself still included) wouldn't even know there was trouble with the economy had it not been on every channel and ever magazine cover!

I agree. Not that I know what's happening inside ND, but if the news on TV and print would stop telling everyone every single day that the economy was going south, the economy would be in much better shape! The news has a large impact on the state of the economy, and how people feel about it. UGH!

[Roloff1976]

Speaking of...here is ND gov. Hoeven on MSNBC

Video - CNBC.com

[parrotheadmomma]

JJBradley you are spot on!

Also what does homesteaded mean! Somebody said they were homesteaded in MN and I'm sorry but I don't know what that means LOL.

[Weekend Traveler]

States with a larger number of Black and Hispanic people, and immigrants in general, have a higher unemployment rate. So much of the lower unemployment rate in North Dakota is based on its demographics.

[7 Wishes]

Originally Posted by Jay F

But the other state with a budget surplus, Texas, ranks #2 in population.

Also, the other states with low population have higher unemployment rates. For example Vermont has 7.1% unemployment compared to ND at 4.0%.

So there has to be more to it than simply population.

Actually, VT was kind of the Northeast's version of ND until recently. That 7.1% is the 2nd lowest unemployment rate in the region (next to New Hampshire, which now that I think of it may be the better comparison to ND with it's sub-6% rate). And though they're the one state that allows an unbalanced budget, I believe they had small surpluses from the late 80s until recently year after year. Also very low foreclosure rate.

But I've heard they're starting to develop a lot of budget trouble now. And as regarding some other posters warning about becoming another California, some of that regards the state having a small but steady influx of people from the big Northeast Corridor cities straining their services (I speak of this as someone who almost joined them this year until I decided on the other offer I got that was less of a relocation and learned a lot about these issues there), many of whom complain about what some Minnesotans are about ND (much lower pay vs. the small reduction in costs.....I was shocked to find out how expensive VT was for such a small state).

Originally Posted by jjbradleynyc

I agree. Not that I know what's happening inside ND, but if the news on TV and print would stop telling everyone every single day that the economy was going south, the economy would be in much better shape! The news has a large impact on the state of the economy, and how people feel about it. UGH!

Wholeheartedly agree, some of the economy is the media feeding fear on itself. (Surprised to see a post from someone from my neck of the woods on this thread).

[Roloff1976]

Originally Posted by Weekend Traveler

States with a larger number of Black and Hispanic people, and immigrants in general, have a higher unemployment rate. So much of the lower unemployment rate in North Dakota is based on its demographics.

North Dakota has a large population of Native Americans and at least 5 reservations with very HIGH unemployment. So I don't think we can say because we have a low Hispanic or Black population, North Dakota can't compare itself to states with a minority population. Native Americans are the forgotten minority, and without being racist sounding, the reservations have many unemployed people.
Those high unemployment numbers on the reservations are also reflected in North Dakota's unemployment statistics...so in fact, ND is doing very well when it comes to low unemployment.
And in defense of the Native Americans on the ND Indian reservations, 3 of them have unemployment rates only in the 4% range and one is as high as 11%...far better than the National average..comparable to ND and definately better than many of the states and counties across the nation. I'm guessing many of the people living on the reservations work at casino's (which are not hurting too badly in ND because our economy is good) and also many on the reservations are farmers and ranchers (and that industry is doing well in ND as well).

[leroyleroux]

Originally Posted by parrotheadmomma

JJBradley you are spot on!

Also what does homesteaded mean! Somebody said they were homesteaded in MN and I'm sorry but I don't know what that means LOL.

Really? When we say that in SD, it is where the original house was built by a family moving across the midwest. Like the original farm place. Then the family would grow and build additional homes, but the original is called the 'homestead'.

[parrotheadmomma]

Oh ok, yes that makes sense. You have to bear with me. I'm from the East Coast and although I lived in a rural area for a while, I've never heard anyone say that. Maybe it's the same as what old timers here would call the "ole home place". Where the family started out and all of the family would congregate for different occasions.

[parrotheadmomma]

I just got this from wikipedia, and it's a little different than what I thought, but I understand now.

The Homestead principle in law is the concept that one can gain ownership of a property that currently has no owner by using that property. Along with self-ownership, the right to homestead is one of the foundations of libertarianism

Anyway there is a whole section about it and I just never thought to google it. Thanks for letting me know. Now I'm just a little bit smarter LOL