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Chicago is shrinking, most of the rust belt states have lost their manufacturing base, and places like Miami have high unemployment and only run off tourism.
About the only residential construction that's going on in Tucson, AZ, is million-dollar+ homes for the very rich (who usually have other homes elsewhere) and new rental apartment complexes. They're very nice, all the amenities of luxury condo living (some of them even have a Starbucks on the premises, as well as pools, gym, theater, etc). But very expensive. One company alone has built five of them, each with 200-400 units. How will young people ever save up for the down-payment on a single family home when they're paying more than $1,000 a month on rent, PLUS they have to pay utilities?
About the only residential construction that's going on in Tucson, AZ, is million-dollar+ homes for the very rich (who usually have other homes elsewhere) and new rental apartment complexes. They're very nice, all the amenities of luxury condo living (some of them even have a Starbucks on the premises, as well as pools, gym, theater, etc). But very expensive. One company alone has built five of them, each with 200-400 units. How will young people ever save up for the down-payment on a single family home when they're paying more than $1,000 a month on rent, PLUS they have to pay utilities?
I bet I could get into an upper middle class neighborhood for 200g there.
I've been to the Central Valley. I've seen the condition of America's heartland.
How about the high growth areas of the country? Denver? Salt Lake? Charlotte? Raleigh-Durham? The non-trailer trash parts of Florida? New York City? Boston? DC?
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