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Old 08-13-2019, 04:26 PM
 
Location: Connecticut
34,933 posts, read 56,945,109 times
Reputation: 11228

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Quote:
Originally Posted by SteveM85 View Post
I have no issue with your first sentence, made no mention of that. I see nothing but wealth and growth where I live. We hear people say they "WANT" to leave all the time but it's all talk, they ain't goin' anywhere.

I'm skeptical of rankings. It's hard to believe you can't find quality HC in the year 2019 in a nation as advanced as this one. The Artist fellow and others should be more concerned with access to quality HC INSURANCE and the costs associated with that mess instead of locations or states.
I am skeptical of rankings too but they are out there a lot and people read them constantly. They forget that things like growth are relative terms where if you do not fall far, you do not have a lot to grow from. In the Great Recession, Connecticut’s unemployment rate never crossed into the double digits. That is not true in most of those big growth states. Our GDP did not drop dramatically so it did not need to grow a lot for us to stay at the top. We also do not have an expanding population so it’s kind of hard to have high growth when you aren’t adding a lot of people. We are already one of the most densely populated states. Do we really want or need more people?

I also know what you mean about people saying they are going to leave. One of our neighbors used to say that they were moving as soon as their kids were out of high school. Well their youngest has been out of high school for six years now. There is no for sale sign on their lawn and I don’t hear that talk from them anymore. This couple did live in Florida back before they had kids. They came back because the jobs there dried up and the schools sucked. That was 20 years ago so it’s not like they are scared of change or don’t know what to expect if they leave. I do suppose at some point they will retire and then maybe head south like so many baby boomers are now doing. We will see. Jay

 
Old 08-14-2019, 10:49 AM
 
21,620 posts, read 31,207,908 times
Reputation: 9775
This was posted in a CT Facebook group I belong to and figured I’d share it here. Apparently, according to “GoBankingRates”, Bridgeport and Hartford areas are in for a “housing crash”. I don’t know how accurate this is nor do I usually like these rankings.

“That’s based on the percentage of mortgages that have negative equity, meaning the home is ultimately worth less than the total cost of the mortgage, in addition to vacancy, delinquency and foreclosure rates.”

https://www.foxbusiness.com/personal...aiuWTBZFQPpXbc
 
Old 08-14-2019, 04:57 PM
 
Location: Connecticut
34,933 posts, read 56,945,109 times
Reputation: 11228
Quote:
Originally Posted by kidyankee764 View Post
This was posted in a CT Facebook group I belong to and figured I’d share it here. Apparently, according to “GoBankingRates”, Bridgeport and Hartford areas are in for a “housing crash”. I don’t know how accurate this is nor do I usually like these rankings.

“That’s based on the percentage of mortgages that have negative equity, meaning the home is ultimately worth less than the total cost of the mortgage, in addition to vacancy, delinquency and foreclosure rates.”

https://www.foxbusiness.com/personal...aiuWTBZFQPpXbc
Housing crash? Not in the Hartford area. In Glastonbury, home sales and prices are up, Days on Market and new listings are down. If there was a crash, that would not be true. From what I see this is true across the area. According to the data in the link below, sales for the first half of the year are up in Hartford County.

https://www.amybergquist.com/blog/20...ome-to-summer/

I have to wonder about the article posted since Hartford was named one of tightest rental markets in the country. How can Fox say it has a high vacancy rate? Downtown is booming with new rentals that are being filled almost as fast as they come on the market.

As was discussed in the Fairfield County Spring Real Estate Market thread, the market there appears to be similar to last year which was hardly a crash. Just more unsubstantiated speculation. Jay

https://www.bhhsneproperties.com/mce...rfield_ALL.htm
 
Old 08-14-2019, 05:05 PM
 
Location: Connecticut
5,104 posts, read 4,834,850 times
Reputation: 3636
Quote:
Originally Posted by kidyankee764 View Post
This was posted in a CT Facebook group I belong to and figured I’d share it here. Apparently, according to “GoBankingRates”, Bridgeport and Hartford areas are in for a “housing crash”. I don’t know how accurate this is nor do I usually like these rankings.

“That’s based on the percentage of mortgages that have negative equity, meaning the home is ultimately worth less than the total cost of the mortgage, in addition to vacancy, delinquency and foreclosure rates.”

https://www.foxbusiness.com/personal...aiuWTBZFQPpXbc

Sounds like a great opportunitie to snatch up some cheap properties. Keep us informed on the price drops.
 
Old 08-14-2019, 07:53 PM
 
24,559 posts, read 18,259,472 times
Reputation: 40260
Quote:
Originally Posted by JayCT View Post
Housing crash? Not in the Hartford area. In Glastonbury, home sales and prices are up, Days on Market and new listings are down. If there was a crash, that would not be true. From what I see this is true across the area. According to the data in the link below, sales for the first half of the year are up in Hartford County.

https://www.amybergquist.com/blog/20...ome-to-summer/

I have to wonder about the article posted since Hartford was named one of tightest rental markets in the country. How can Fox say it has a high vacancy rate? Downtown is booming with new rentals that are being filled almost as fast as they come on the market.

As was discussed in the Fairfield County Spring Real Estate Market thread, the market there appears to be similar to last year which was hardly a crash. Just more unsubstantiated speculation. Jay

https://www.bhhsneproperties.com/mce...rfield_ALL.htm
HARTFORD, not Glastonbury. The metric they’re using is properties that are underwater on their mortgage.

I doubt the rental market is particularly tight in the Hartford slums.
 
Old 08-14-2019, 08:28 PM
 
34,053 posts, read 17,071,203 times
Reputation: 17212
https://www.ctpost.com/business/arti...1-14304609.php

Ominous as more than 9 million in secured claims, drowns out investing properly or using cash reserves to weather the storm.
 
Old 08-15-2019, 07:34 AM
 
Location: Connecticut
34,933 posts, read 56,945,109 times
Reputation: 11228
Quote:
Originally Posted by GeoffD View Post
HARTFORD, not Glastonbury. The metric they’re using is properties that are underwater on their mortgage.

I doubt the rental market is particularly tight in the Hartford slums.
The post said "Hartford area" which is why I commented on Glastonbury and the entire county. Also I am sure there are parts of the city where there are empty apartments but that is true in every city and more importantly, how does a city go from having one of the tightest rental markets in the country to having a high rate of empty apartments in a matter of months? Makes little sense and is not what I am seeing. Makes little sense to me. Jay
 
Old 08-15-2019, 07:50 AM
 
1,888 posts, read 1,184,903 times
Reputation: 1783
Hartford just opened up a few new apt buildings. Without population growing, something has to give.
Also most that's passed off as news is garbage, as you know
 
Old 08-15-2019, 12:57 PM
 
1,985 posts, read 1,456,376 times
Reputation: 862
It seems quite possible the actual Hartford rental market is tight. The surrounding suburbs all have fairly high rental rates which drives renters that can't afford it to less desirable areas.
 
Old 08-15-2019, 02:53 PM
 
Location: Connecticut
34,933 posts, read 56,945,109 times
Reputation: 11228
Well Connecticut’s unemployment rate is now officially lower than the national average. The US average in July remained at 3.7% while Connecticut’s rate dropped to 3.6%. It appears that public sector employment has grown while private sector has remained steady. Good news though I am sure the media and a few posters will find something negative to say about it. Jay

https://www1.ctdol.state.ct.us/lmi/unemprateCTUS.asp

https://ctmirror.org/2019/08/15/cts-...rcent-in-july/
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