Skip to comments.States Where No One Wants To Buy A New Home
Posted on 08/21/2011 9:29:33 AM PDT by bgill
24/7 Wall St. looked at the total number of building permits issued by each state for the first half of the year. We then identified the states that had the lowest percentage of new housing permits as compared to the total number of housing units.
These are the states where no one wants to buy a new home:
1. Rhode Island
2. West Virginia
8. New York
(Excerpt) Read more at finance.yahoo.com ...
Michigan might not be a bad bet. We’ve seized control of state government and things are turning around slowly.
We just need conservatives to keep the momentum going.
I feel a bit “BLUE” looking for a common theme?
Hmm. These states have something in common. Could it be overwhelming, stifling, sickening and destructive liberalism?
Nah. Got to be Bush’s fault, somehow. Or the Tea Party. Or Rick Perry.
The problem with all ten states listed is that they simply aren’t creating jobs, period. You’d think they’d be enticing international companies to come in and give them great deals to create jobs out of thin air (like both Tennessee and Alabama do)....but they can’t. My prediction over the rest of this decade is that most of these lose population and by 2020....they lose more representative power. In essence, they are creating a negative electoral college situation over the next ten years for themselves.
Without new construction, the value of exisiting homes is enhanced. People have to live somewhere.
Where’s California? Did it already fall off the face of the map?
you mean that fdr’s—obama’s fascism does not work?
nope, but my house supposedly went up 18k this last month I presume it will go down 20k next month to make up for it. there is a huge glut of forclosed homes everywhere on the market.
There are 4 houses for sale on my 3 block long street, in a small township between Cleveland and Akron. No construction going on anywhere.
A friend in upstate NY says many, many old, vacant, small family farms are for sale below dirt cheap, but no one is buying because the property and school taxes are astoundingly high.
He told me about places where the annual property and school taxes are 50% of the asking price.
The Atlanta metro has a smattering of new home construction — mostly where it’s a really good location. Probably mostly single home, higher end. Just a few mid-range spec homes.
Our house just appraised for $14,000 less than what we paid for it in 1997.
Trouble is they have to look at comparable SALES. The homes that have sold were sold at bargain prices.
At least we’re more than 60% paid for.
I have been watching this phenomenon for many years.
Once the state has been burdened with impossible debt and regulations, the socialists will retire and move to a red state with their fat pensions and recreate the disaster they just left.
Socialists have the parasite gene, you can't negotiate with them or "compromise" with them.
Au contraire - Ohio at #6 - we elected a Republican governor and kicked out Obama’s buddy Strickland who couldn’t even get a space shuttle for our Air Force Museum, an exceptionally good, FREE museum -
We have hope that Governor Kasich will continue to buck the unions (not ‘bust’, altho that would be fine with me) and work to reverse the awful jobless trend here in Ohio.
Problems had begun prior to Obama, with automotive factories leaving, but for the most part Ohio has been a Red state. It was sickening when it went for Obama.
Large companies like NCR, who started in Dayton, were allowed to be stolen by Atlanta after 120 years - with Strickland complaining that NCR management wouldn’t even talk to him. Complaining seems to be all that libs are ever able to do, complain and point fingers.
Now the MSM is working hard to convince us that the ‘GOP’ leadership, whatever that is supposed to mean, wants Ohio to support Romney.
I don’t think that is going to fly. We remember the GOP Leadership telling us to support McCain and look how that turned out. Palin was the only thing that came close to redeeming his dreadful campaign, and for that reason he introduced her here in the Dayton, Ohio area. Too bad that in order to get her, we had to take him.
Are the homes livable? What would an equivalent home rent for in your area?
Maybe you should buy one and generate some cash flow..
NY is a state full of folks too willing to skate on the ice pond owned by others.
Especially when the others are converting the ice ponds into hot baths.
It’s the Devil’s owned, you see.
Very hot, those sulfurous hot baths.
Or Japan's earthquake or the Arab Spring or just plain bad luck. Policies of liberals is like unleashing a torrent of locust on a farm.
There was a thread on FR earlier about NY losing population.
Maybe but the dependent class and taxes have to go down. What are you going to do with all the muzzies?
Its been years since I’ve seen a muslim. They’re primarily in Detroit. As far as the dependents are concerned, they’re leaving the state because we’re cutting them off.
Well here in PA we were sold a bill of goods on casinos - supposed to see our property taxes go down. Good luck with that.
I own a home in Florida and one is PA. Florida home appraised at about 4 times the PA home. Property and school taxes in Florida total 1/2 what they do in PA - and I don’t mean 1/2 of the appraisal - I mean 1/2 the size of the total check I write.
Business and regulatory taxes and fees here just kill us. Worker Comp runs about 1.6% of payroll. Its no wonder that the state can’t attract (and keep) businesses here. Although banking seems to prosper as does any form of government and welfare worker.
People say a lot of stupid crap about the midwest. Funny thing is that our midwestern dependents are fleeing to the “red” states of the south. LOL
Good for you! Where are the dependents going?
Heading south from the looks of it. They can’t afford to go to places like NY or LA. There really is a lot more to Michigan than Detroit.
lots of pictures in this thread.
Here in Texas, our property taxes were supposed to go down, too. They did one year but are skyrocketing to make up the difference. Mine have gone up over 10% every year in the past 10 years expect that one year. It’s only supposed to be a hike of 10% but rounding seems to go in their favor. We can’t make the basic repairs because every dime of *past* savings is going to property taxes. Unless some unknown rich uncle dies and leaves us a fortune, we’ll be forced out of the home I grew up in and raised my family in within the next 3 years.
Well, that's the problem. They believe that all corporations are "evil", so they are to be shunned at all costs. The only answer for them is more government to "take care" of the citizens (and illegals of course too).
Are you sure that's Illinois? Where is Chicago? Lake Michigan?
“Are the homes livable?’
Very! All remodeled homes from the mid 60s. Nice small township. We have a nice lake on the street. Average value would be around 180k, excluding the homes on the lake, which would go for more. Side street id newer, so 250k+ for those.
“What would an equivalent home rent for in your area?”
Can’t say that I know. I should find out!
i bought a few houses in california the last few years
1 for 49k that sold for 275 in 06.
Property taxes are 1.25%
big drop in the tax bill
I got them rented out for 800 a month pretty good return
Everyone of those states has unbelievably high property taxes and no jobs.Go figure
Nah. Got to be Bushs fault, somehow. Or the Tea Party. Or Rick Perry.
Or Japan’s earthquake or the Arab Spring or just plain bad luck. Policies of liberals is like unleashing a torrent of locust on a farm.
Don’t be silly. It’s the ATMs
My home has been under water and still dropping in value each year since 2008. Went down anoter 24,000 this year. Thankfully we don’t plan on selling and we have a fixed payment.
How much is a high property tax? I hear horror stories about New York, but other than that what percentage is typical? I'm paying about 2 - 2.5% of my home's value in annual tax.
2500 sq ft house in illinois is 7500 from what my friend tells me.I raise hell about what georgias taxes are on houses twice that size and for 3000 less.
“A friend in upstate NY says many, many old, vacant, small family farms are for sale below dirt cheap, but no one is buying because the property and school taxes are astoundingly high. He told me about places where the annual property and school taxes are 50% of the asking price.”
I’m shocked NJ isn’t on the list, for the exact same reason. The taxes are brutal, and nobody can be sure they’ll have a job 3 months down the road, never mind 30 years. The potential buyers know what’s been in the news for years now about our tax burden in NJ, and since many won’t be reproducing anyway, the idea of owning a home makes no sense to them. Condos are still being built here, which can accomodate either a “modern” family (2 cohabitating yuppies and a dog) or twenty illegal aliens, who seem to be the only growing population here.
Who would buy a new home in NJ when there are so many vacant ones on the market? The newest ones come with the highest appraisals (hence highest taxes), and only do well in areas where wealthy people see the high taxes as a way to keep minorities out of their towns/school districts.
“Everyone of those states has unbelievably high property taxes and no jobs.”
Every one of those states has no jobs DUE TO their unbelievably high property taxes. Companies can only be squeezed so much, and the taxpaying workers that can follow them when they head to more business-friendly states (or countries).
The problem is that jobs are being lost in traditional industries faster than the growth of the newer industries.
Michigan would be far better off if they’d just get rid of Detroit somehow, just as Calif. would do far better if they just sink L.A. and Frisco in to the ocean
Detroit I can handle. I’d rather get rid of Ann Arbor.
Detroit is an indifferent parasite, Ann Arbor is an angry self righteous parasite.
Whenever I see the barbs go out in the manner I've seen lately over Rick Perry....I will always refer to a scriptures:
Luke 6:22 Blessed are ye, when men shall hate you, and when they shall separate you from their company, and shall reproach you, and cast out your name as evil, for the Son of man's sake.
John 15:18 If the world hate you, ye know that it hated me before it hated you.
Given the tenuous employment environment, I cannot see why anybody would purchase a home now. Traditionally one has needed to stay in a home for more than five years to make paying the closing costs worthwhile. Then, should one need to move for employment, one must be able to sell the home. These days that is much easier said than done.
Housing prices here in Rochester, NY did not rise as fast as the “big bubble” areas. They did not fall as much easier. As a distance runner, my training runs currently range from 5 to 15 miles and take me past several attractive, moderately priced homes that are for sale. I have run past these same homes all spring and summer and the homes just don’t seem to be selling. I suppose that one could really drop the price to get them to move, but I suspect few owners could afford to do so.
Yeah, and they are coming here to KY. They are building a mosque right next door to a Christian church. You never saw a muslim here before.
I marvel at that scripture and others when I read them these days. They are so descriptive of the here and now.
As a Christian and a conservative living in Massachusetts, they provide real comfort!
Good luck to your entrepreneurial ventures.