The economic storm sweeping the country has left Americans with few places to hide. But those looking to hunker down might want to head to Texas, where they can get the best value for their dollar.
Dallas is in the top 10 of the list of places where your money goes farthest. Residents enjoy affordable housing and promising prospects for job growth in coming years.
7. Dallas, Texas
Job Growth Projections Rank: 7
Inflation Rank: 39
Median House Price/Median Household Income Rank: 3
Median Income/Cost of Living Index Rank: 20
Gas Prices Rank: 21
"Texas, as a whole, is one of the few economies that are performing extremely well because of the energy and technology sectors," says Andrew Gledhill, an economist at Moody's Economy.com.
The state's manufacturing sector has also grown in recent years, and a reputation for affordable housing continues to lure people to the South. When accounting for median household income, a house in Dallas, for example--with a median price of about $150,000--is four times more affordable than a house in Los Angeles, the worst-ranked city on the list.
Economists predict job growth of at least 2% by 2012 in Dallas. By comparison, job growth in cities at the bottom of the list, including Los Angeles, Philadelphia and Cleveland, is expected to be about 0.2%.
Yet another reinforcement in what I have said before (and will probably say again) this is a GREAT time to be a buyer! If you are looking to move up, buy your first home, or invest in real estate……NOW is the time, call me!
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