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Buffalo NY Rated Worst Real Estate Market in the US by the Urban Land Institute
Buffalo (78). Buffalo, New York, has recovered
all of the jobs lost during the last recession, but the
economy has failed to build any positive momentum.
Health care employment has been growing,
largely due to the older average age of the city’s
population. Going forward, slow demographic
growth will be a headwind to health care employment
gains. Buffalo’s urban core has struggled
recently, with the 2015 population falling by the
most in seven years. The city has programs dedicated
to revitalization of the urban core, but in the
near term, residential and retail growth will likely
be confined to relatively small pockets.
I believe this is based on jobs and affordability alone and I believe for metro areas with at least 1 million people, which is a little bit different from the worst housing market in the country. https://www.google.com/amp/www.cbsne...?client=safari
And the answer is:
Stats won't fit every person. If you live here and can afford to and like it? Stay.
If you don't. move on but do not complain about a great place to live. (** Yes, my 2 daughters, in their 30s, both found good jobs, bought homes and are raising families here as well. Not everyone leaves)
How stupid. There is a shortage of single-family house listings in desirable area. Neighborhoods that you would not have been caught dead in 10 years ago are being revitalized. Compared to 2007, I bet price appreciation in those nice areas are among the highest in the US.
I moved to the city of Buffalo in 1990. It's only been getting better since then. Granted, I bought housing when it was relatively cheap and I didn't suffer through the real-estate decline between 1990 -> 2000 (as I was renting), but after I purchased, I've made out pretty well so far. There is a bit of a housing bubble moving through parts of Buffalo. There are doubles on my street selling for $220K+. I suspect when the market settles these houses will be in the high $180's. That's roughly a 20% drop from where we are today. Of course, I could be wrong, but that's my prerogative.
There are no perfect places folks. I lived in San Diego. Besides the best weather, San Diego has it share problems.
Nice try, San Diego is booming and growing as well as just about every city except for Buffalo NY
CBRE’s 2016 annual markets city's ranks & list in the U.S. and Canada just came out. Go down to the list's where CBRE ranks all the city's that are adding tech jobs, filling and adding office space etc... Buffalo is not even on one list. Even Detroit is doing better then Buffalo
Nice try, San Diego is booming and growing as well as just about every city except for Buffalo NY
CBRE’s 2016 annual markets city's ranks & list in the U.S. and Canada just came out. Go down to the list's where CBRE ranks all the city's that are adding tech jobs, filling and adding office space etc... Buffalo is not even on one list. Even Detroit is doing better then Buffalo
That's probably why everyone's leaving WNY, which has been losing population every single year for the last 45 years in the roll and it's now speeding up to over 5,236 long term residents left in one year in the last census
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