Can you say Texas? Tennessee? North Carolina?
We have to say for frugal house hunters looking to take the money and run, these places are looking good. If you are willing to go sensible in your new single family home, you can find something well built on a nice lot for less than 150K. With alittle TLC and a couple room additions in the future you could be looking at living large in no time (and with minimal slavery to debt). With less than 20% of the price covered, my 75K down payment in Washington DC would have left me paying 300$ per month in extra mortgage insurance for the next 10 or so. Down South, that's 50% down. Are you kidding?
All the statistics say jobs are booming in most of these areas. With baby-boomers about to start their slow march into retirement, these warm, cheap areas should see nothing but more sunshine (and appreciation) in the years to come. The cheap revolution is no doubt coming to white collar service sector, and when it does the coastal megalopolises will see the companies further migrating to cost competitive cities like Raleigh, Winston Salem, Charlotte, Knoxville, Nashville, Memphis, and any number of Texas spots from rural towns like Lubbock and College Station to big cities like Dallas-Fort Worth.
What about you? Are you living in one of these southern boomtowns? Or are you one of us about post your resume and pack your bags? Maybe you are looking to start your own business? Either way, your savings and salary will go much farther once you begin the exodus from your overpriced north-eastern abode. Goodbye Boston, New York, Washington DC. And while we're at it, so long West Coast and Florida. The future looks bright from here.
We have to say for frugal house hunters looking to take the money and run, these places are looking good. If you are willing to go sensible in your new single family home, you can find something well built on a nice lot for less than 150K. With alittle TLC and a couple room additions in the future you could be looking at living large in no time (and with minimal slavery to debt). With less than 20% of the price covered, my 75K down payment in Washington DC would have left me paying 300$ per month in extra mortgage insurance for the next 10 or so. Down South, that's 50% down. Are you kidding?
All the statistics say jobs are booming in most of these areas. With baby-boomers about to start their slow march into retirement, these warm, cheap areas should see nothing but more sunshine (and appreciation) in the years to come. The cheap revolution is no doubt coming to white collar service sector, and when it does the coastal megalopolises will see the companies further migrating to cost competitive cities like Raleigh, Winston Salem, Charlotte, Knoxville, Nashville, Memphis, and any number of Texas spots from rural towns like Lubbock and College Station to big cities like Dallas-Fort Worth.
What about you? Are you living in one of these southern boomtowns? Or are you one of us about post your resume and pack your bags? Maybe you are looking to start your own business? Either way, your savings and salary will go much farther once you begin the exodus from your overpriced north-eastern abode. Goodbye Boston, New York, Washington DC. And while we're at it, so long West Coast and Florida. The future looks bright from here.
1 comment:
Well written article.
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