Don't click or your IP will be banned


Hittin' The Web with the Allman Brothers Band Forum
You are not logged in

< Last Thread   Next Thread >Ascending sortDescending sorting  
Author: Subject: America's Emptiest Cities

Zen Peach





Posts: 69075
(69436 all sites)
Registered: 11/28/2001
Status: Offline

  posted on 10/19/2011 at 02:57 PM
http://realestate.yahoo.com/promo/americas-emptiest-cities-2011.html


It’s no secret that the U.S. housing market has seen better days. From falling home values and impaired labor mobility, to backed-up inventories and a flood of foreclosures, there are countless ways that real estate affects the economy at large.

One of the unfortunate results of a bad housing market is an increase in vacant homes, which has grown by 43.8 percent since 2000, according to the U.S. Census Bureau. Homes can be vacant for various reasons, but they are defined as both rental inventory that are unoccupied and “for rent,” as well as homes that are unoccupied and up for sale. As of the 2010 Census, there were approximately 15 million vacant housing units in the country, with an 11.4 percent gross vacancy rate nationwide.

Much like the range of diversity in home values from city to city, homeowner and rental vacancy rates vary dramatically depending on where you live. Every quarter, the Census publishes data on homeowner and rental vacancies in the 75 largest U.S. cities that reveal which metro areas have the highest number of empty homes. The cities listed here are ranked by CNBC.com according to equal-weighted rankings in both rental and homeowner vacancies, which reveal the most significant outliers in both categories relative to other major U.S. cities.

Here are the five emptiest major U.S. cities:


5. Atlanta
4. Memphis
3. Toledo
2. Indianapolis
1. Tucson


I seem to remember someone on here giving Otie sh!t for living in Las Vegas.... but look what town is #2......

The capital of Indiana is also one of the emptiest major cities in the country, according to data from the Census Bureau. The 5.2 percent home vacancy rate in Indianapolis ranks it fifth in the country, while the 13.5 percent rental vacancy rate places it 10th. With these levels, the city is more vacant than nearly every other major U.S. metro area.




 

____________________

 
Replies:

Zen Peach



Karma:
Posts: 46737
(46738 all sites)
Registered: 7/8/2004
Status: Offline

  posted on 10/19/2011 at 03:02 PM
That's a lotta empty tubs...

 

____________________
"Live every week like it's Shark Week." - Tracy Jordan

 

Zen Peach



Karma:
Posts: 67489
(68006 all sites)
Registered: 10/27/2002
Status: Offline

  posted on 10/19/2011 at 04:15 PM
Surprised Buffalo isn't in the top 5.

 

____________________
Hittin' The Web::Hugh Duty Memorial Giveaway has begun!

RIP Hugh Duty

 

World Class Peach



Karma:
Posts: 5451
(5450 all sites)
Registered: 4/18/2002
Status: Offline

  posted on 10/23/2011 at 08:36 PM
Where's Detroit on that list?

 

____________________
All photos posted of family, friends, and places, including those of historic ABB value, by this poster are copyrighted by the poster, or posted by permission of the copywriter.
None of those photos may be reproduced for commercial gain.

 

True Peach



Karma:
Posts: 11252
(11270 all sites)
Registered: 3/8/2002
Status: Offline

  posted on 10/23/2011 at 09:35 PM
quote:
http://realestate.yahoo.com/promo/americas-emptiest-cities-2011.html


It’s no secret that the U.S. housing market has seen better days. From falling home values and impaired labor mobility, to backed-up inventories and a flood of foreclosures, there are countless ways that real estate affects the economy at large.

One of the unfortunate results of a bad housing market is an increase in vacant homes, which has grown by 43.8 percent since 2000, according to the U.S. Census Bureau. Homes can be vacant for various reasons, but they are defined as both rental inventory that are unoccupied and “for rent,” as well as homes that are unoccupied and up for sale. As of the 2010 Census, there were approximately 15 million vacant housing units in the country, with an 11.4 percent gross vacancy rate nationwide.

Much like the range of diversity in home values from city to city, homeowner and rental vacancy rates vary dramatically depending on where you live. Every quarter, the Census publishes data on homeowner and rental vacancies in the 75 largest U.S. cities that reveal which metro areas have the highest number of empty homes. The cities listed here are ranked by CNBC.com according to equal-weighted rankings in both rental and homeowner vacancies, which reveal the most significant outliers in both categories relative to other major U.S. cities.

Here are the five emptiest major U.S. cities:


5. Atlanta
4. Memphis
3. Toledo
2. Indianapolis
1. Tucson


I seem to remember someone on here giving Otie sh!t for living in Las Vegas.... but look what town is #2......

The capital of Indiana is also one of the emptiest major cities in the country, according to data from the Census Bureau. The 5.2 percent home vacancy rate in Indianapolis ranks it fifth in the country, while the 13.5 percent rental vacancy rate places it 10th. With these levels, the city is more vacant than nearly every other major U.S. metro area.








That's surprising. I've visited Indy a few times and always enjoyed it - especially the Broad Ripple area, where Letterman is from - and really like the people. I was there last summer and thought it was one of the few midwestern cities other than Chicago I wouldn't mind living in, except for that miserable climate.

 

____________________
"Love Like You've Never Been Hurt"-Satchel Paige

 

Zen Peach



Karma:
Posts: 27533
(27822 all sites)
Registered: 2/18/2006
Status: Offline

  posted on 10/23/2011 at 09:38 PM
I'm not surprised at Atlanta but Memphis is surprising.

 

____________________
Sometimes we can't choose the music life gives us - but we damn sure can choose how we dance!


 

True Peach



Karma:
Posts: 11252
(11270 all sites)
Registered: 3/8/2002
Status: Offline

  posted on 10/23/2011 at 10:24 PM
quote:
I'm not surprised at Atlanta but Memphis is surprising.


I enjoyed Memphis when I was there 2 years but it was obvious that the city was in serious decline.

On the other hand, Atlanta surprises me. It is home to some of the biggest corporations in the US (Coke, CNN) and has several great universities as well as hospitals and med schools, like Emory, and the CDC is there. All in all it has always seemed like a very vibrant and vital city to me.

 

____________________
"Love Like You've Never Been Hurt"-Satchel Paige

 

Sublime Peach



Karma:
Posts: 7168
(7166 all sites)
Registered: 4/7/2002
Status: Offline

  posted on 10/30/2011 at 08:52 PM
LOL. The census bureau. How does that translate into home values?

Try Forbes most affordable American cities.

http://www.forbes.com/2011/01/06/bargain-cities-affordable-real-estate-pers onal-finance.html


Behind The Numbers

What do we mean by a bargain? The Merriam-Webster Dictionary defines it as an "advantageous deal." On that score Omaha qualifies, thanks to a list-leading combination of affordable real estate and a healthy ratio of income to living costs.

To compile our bargain city list, we started with the 50 largest U.S. Metropolitan Statistical Areas (MSAs) and then compiled a mix of data aimed at handicapping the overall affordability of living in each.

We looked at the current median asking price of homes on the market in each city, using data from Altos Research, a San Francisco-based real estate research firm. We got the median salaries of workers with bachelor's degrees or higher from PayScale.com and compared it to a cost-of-living index from Moody's Economy.com (the cost-of-living index factors in transportation, insurance, food, utilities and other factors). Finally, we factored in the latest unemployment rates from the Bureau of Labor Statistics to reflect the relative strength of local economies.

The Midwest dominated our bargain city list. Other heartland metropolises offering good deals include Indianapolis, Ind. (No.4); Minneapolis-St. Paul, Minn. (No. 7); Oklahoma's namesake city (No. 9) and Tulsa (No. 15); and Ohio's three largest metros, Cincinnati (No. 5), Cleveland (No.8) and Columbus (No. 13).

Indianapolis, Kansas City and Ohio's three enclaves have real estate deals available at low price points.


Of course, no Chicago or any city from Illinois on the list. But Illinois does head the list of the higest pension debt in the United States. Something to proud of, for sure. And I didn't think anyone could out do California when it comes to pension debt.

http://www.rrstar.com/news/x194405103/Illinois-pension-debt-worst-in-nation

[Edited on 10/31/2011 by jerryphilbob]

 

____________________
"If everyone demanded peace instead of another television set, then there'd be peace."

- John Lennon

 

Zen Peach



Karma:
Posts: 69075
(69436 all sites)
Registered: 11/28/2001
Status: Offline

  posted on 10/30/2011 at 09:19 PM
I can see why you're not in real estate - there are "bargains" because there is so much real estate available.... because it's empty.......which leads to a buyers market.......

Pension debt has a lot to do with this story - thanks for bringing it up to deflect once again....

 

____________________

 

Sublime Peach



Karma:
Posts: 7168
(7166 all sites)
Registered: 4/7/2002
Status: Offline

  posted on 10/31/2011 at 01:00 AM
Obviously you didn't read the criteria used for "bargains", here, let me help you out with that.

quote:
We looked at the current median asking price of homes on the market in each city, using data from Altos Research, a San Francisco-based real estate research firm. We got the median salaries of workers with bachelor's degrees or higher from PayScale.com and compared it to a cost-of-living index from Moody's Economy.com (the cost-of-living index factors in transportation, insurance, food, utilities and other factors). Finally, we factored in the latest unemployment rates from the Bureau of Labor Statistics to reflect the relative strength of local economies.


Plus, don't you remember, I sold my home two years ago. I saw the housing downturn and the banksters trap coming. I got out from under my depreciating liablility. It just makes me look that much smarter than the ones that laughed at me for rescuing my equity and not being trapped in a depreciating liablitly. Most peoples assets are going down while their cost of living is going up. Of course, I almost earned 6 figures this year selling hot tubs? Go figure.

By the way, St. Johns was awesome, thanks for asking!






[Edited on 10/31/2011 by jerryphilbob]

 

____________________
"If everyone demanded peace instead of another television set, then there'd be peace."

- John Lennon

 

Sublime Peach



Karma:
Posts: 7168
(7166 all sites)
Registered: 4/7/2002
Status: Offline

  posted on 10/31/2011 at 01:20 AM
Here is a list of the 25 Best Housing markets since Obama took office, and of course, the 25 worst since Obama took office. Not one Indiana city on the list, but where is Cicero, IL? They made one of the worst housing markets, hope that you don't live there?

http://www.businessweek.com/lifestyle/not-every-real-estate-market-is-strug gling-10212011.html

It's no mistake that DC is the #1 housing market and one of the few to actually go up in value. You know, follow the money!

 

____________________
"If everyone demanded peace instead of another television set, then there'd be peace."

- John Lennon

 

Sublime Peach



Karma:
Posts: 7168
(7166 all sites)
Registered: 4/7/2002
Status: Offline

  posted on 10/31/2011 at 01:32 AM
Ten housing markets that will collapse this year. Of course, Indianapolis (which I don't even live in) is not on the list, but VEGAS is #3.

http://247wallst.com/2011/08/09/the-ten-housing-markets-that-will-collapse- this-year/2/

3. Las Vegas, Nevada
> Expected price drop: -13.9%
> Median family income: $58,900 (196th lowest)
> Unemployment rate: 12.4%
> Median home price: $140,000 (90th lowest)
> Projected to hit lowest level: Q4 2012

Las Vegas was one of the center points of the meteoric growth in the first half of the 2000s, only to be followed by a catastrophic fall in the second half. Between 2008 and 2011, home prices in the city dropped by 42.3%, the second greatest decline in the country. Although home values in the city are already more than 58% off their peak, they are projected by Case-Shiller to drop an additional 13.9% by Q1 2012, and then 6.3% more by Q1 2013.


The moral of the story, houses are NOT assets or investments, but a place to hang your hat. If you bought a home as an "investment" you are going to be a loser, unless, of course you live in DC.

 

____________________
"If everyone demanded peace instead of another television set, then there'd be peace."

- John Lennon

 

Zen Peach



Karma:
Posts: 69075
(69436 all sites)
Registered: 11/28/2001
Status: Offline

  posted on 10/31/2011 at 08:23 AM
My house is paid for, and is still worth more than double what I paid for it.... not a bad investment, I'd say.......

 

____________________

 

Sublime Peach



Karma:
Posts: 7168
(7166 all sites)
Registered: 4/7/2002
Status: Offline

  posted on 11/1/2011 at 04:19 AM
How much does your house pay you every month?

You haven't realized anything on your investment and it continues to go down in value as we speak. On top of that, if you do sell it, they are going to pay you in depreciating dollars that the fed continues to print at a breakneck pace. So factoring in the real market and inflation, you might still be even.

I do commend you for owning your depreciating liability, unlike 42% of Americans who are now upside down on their loans.

Of course, most people don't realize how bad the housing market really is until they go and try to sell it. Your home, most likely, isn't worth what you think it is. Unless, of course, you live in Boston or DC?

 

____________________
"If everyone demanded peace instead of another television set, then there'd be peace."

- John Lennon

 

Zen Peach



Karma:
Posts: 69075
(69436 all sites)
Registered: 11/28/2001
Status: Offline

  posted on 11/1/2011 at 08:24 AM
My house doesn't pay me, but I am not paying rent to somebody else..... living in the same house for 26 years has provided a sense of continuity and security for my family... which is worth a lot to me....it's not all about money.....

 

____________________

 

Sublime Peach



Karma:
Posts: 7168
(7166 all sites)
Registered: 4/7/2002
Status: Offline

  posted on 11/1/2011 at 09:25 AM
I would think the 43% upside down in their homes might differ with you. Thank god I was smart enough to get out of me depreciating liability and rescue my equity. I wonder, given what they know today, if the 43% could do what I did, would jump at the chance to have gotten out two years ago? Keep playing by the old rules of money and you are going to get crushed when the dollar crashes. Good luck with those stocks, bonds, and 401ks when the dollar crashes. Time to get a hedge before it's too late.

 

____________________
"If everyone demanded peace instead of another television set, then there'd be peace."

- John Lennon

 

Zen Peach



Karma:
Posts: 46737
(46738 all sites)
Registered: 7/8/2004
Status: Offline

  posted on 11/1/2011 at 10:25 AM
According to some of the depreciating liability logic present here, anyone who owns a car is a total moron.

That's a lot of morons.

 

____________________
"Live every week like it's Shark Week." - Tracy Jordan

 

Sublime Peach



Karma:
Posts: 7168
(7166 all sites)
Registered: 4/7/2002
Status: Offline

  posted on 11/1/2011 at 07:23 PM
quote:
anyone who owns a car is a total moron

Actually, I am all for ownership. It's bank ownership that I am against. You don't own your home if you have a mortgage and you certainly don't own your car if you lease it. I have stated that you should truly OWN everything that you can. Pay it off and own it outright. If they bank owns it, then you don't. Shouldn't they really call it home debt instead of home ownership?

How many people here truly own their cars and their homes? If you do fantastic, most though, do not. It's kinda like ETFs. People buy an ETF and they think they own it, when in reality, all they own is a bet made in dollars. I just laugh when people tell me they own gold when they really own a gold ETF? Classic.



Don't tell OTIE about the Vegas home market, cause it aint good at all

Highest Foreclosure Rates: September 2011

One way to measure the level of foreclosure activity is to understand the percentage of homes that received foreclosure notices. In 2010, nearly 1 out of every 9 homes in the Las Vegas Valley, or 11 percent, had foreclosure filings. The table below shows the rate for just one month, September of 2011, when 1 of every 39 homes, or 2.5 percent of all homes in the Las Vegas area received foreclosure notices.

1. Las Vegas, NV 1 in 39
2. Vallejo, CA 1 in 51
3. Stockton, CA 1 in 52
4. Modesto, CA 1 in 53
5. Riverside, CA 1 in 56
6. Mereced, CA 1 in 62
7. Sacramento, CA 1 in 64
8. Bakersfield, CA 1 in 64
9. Reno, NV 1 in 67
10. Fresno, CA 1 in 70

 

____________________
"If everyone demanded peace instead of another television set, then there'd be peace."

- John Lennon

 
 


Powered by XForum 1.81.1 by Trollix Software

Privacy | Terms of Service | Report Infringement | Personal Data Management | Contact Us
The ALLMAN BROTHERS BAND name, The ALLMAN BROTHERS name, likenesses, logos, mushroom design and peach truck are all registered trademarks of THE ABB MERCHANDISING CO., INC. whose rights are specifically reserved. Any artwork, visual, or audio representations used on this web site CONTAINING ANY REGISTERED TRADEMARKS are under license from The ABB MERCHANDISING CO., INC. A REVOCABLE, GRATIS LICENSE IS GRANTED TO ALL REGISTERED PEACH CORP MEMBERS FOR The DOWNLOADING OF ONE COPY FOR PERSONAL USE ONLY. ANY DISTRIBUTION OR REPRODUCTION OF THE TRADEMARKS CONTAINED HEREIN ARE PROHIBITED AND ARE SPECIFICALLY RESERVED BY THE ABB MERCHANDISING CO.,INC.
site by Hittin' the Web Group with www.experiencewasabi3d.com