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Death Spiral States: The Last Place You Want to Own a Home

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Posted by Brittany Stepniak  on the Wealth Wire

 

Americans don’t seem to settle down at young ages anymore. Their careers and relationships tend to pull them all over the United States, but once people enter their 30s, they tend to start thinking about home ownership.

That’s very good and well, so long as you understand the risk-factors associated with your home location of choice. According to Forbes, new home buyers should be cautious of the type of workers who reside in the states of interest.

Are more folks in the nearby neighborhoods reliant on government jobs and government welfare than those who hold steady jobs in the private sector? If the answer is yes, don’t buy in these areas.

In these uncertain financial times, investors have to be selective. They have to be extremely careful when dividing capital, acquiring real estate, and diversifying their portfolios. If you’re an investor interested in the benefits of home ownership, we urge you to take a look at 11 states where you should rent, not buy.

This list was compiled based upon the ratio of takers vs. makers in that statewide community. Takers are defined by Forbes as people who receive government money; in the form of employee wages, pensions, or welfare. A maker is noted as someone “gainfully employed in the private sector.”

Ohio
 

*Photograph by Gary Cralle/Getty Images, originally published at National Geographic

Hawaii
 

*Image cortesy of Best Hawaii Travel.  

Illinois
 

*Image courtesy of the Illinos Visitors Bureau, originally published on Trip Advisor

Kentucky
 

*Image courtesy of APWA

South Carolina
 

*Image courtesy of Best Beaches.  

New York
 

*Image courtesy of WWP, New York City, New York.  

Maine

*Image courtesy of New York Van Line.  

Alabama

*Photograph by Robert Francis/Getty Images, originally published at National Geographic. 

California
 

*Image courtesy of Foreign Policy

Mississippi

*Image courtesy of Trip Advisor.  

New Mexico
 

*Image courtesy of netstate.com

As the takers in these ill-fated states begin to outnumber the makers, taxes go up for everyone. Wealthy citizens begin to leave to avoid the outrageous tax-increases. As the wealthy people in the private sector are leaning on this principle, the poorer taxpayers left behind are faced with the burden of experiencing yet another round of tax-increases to compensate for all the tax-payers that left and are no longer contributing to that state.

It’s a circle of darkness for many states struggling to keep entrepreneurs from fleeing the state to more attractive locations – based solely upon key financial matters.

Although we all want to escape the humdrum lull of quiet towns from time to time, don’t act too hastily. Running away to the sandy shores on the west coast to soak up the California sun and laid-back atmosphere is great for a vacation, but not for permanency.

No matter how you look at it, California is in trouble. They keep spending money they don’t have,catering their public servants handsomely, while spending billions on people who aren’t even legal citizens. In fact, a City Journal essay by Victor Davis Hanson says that California spends$10 billion a year on entitlements for illegal aliens. This sounds absurd, but it’s true…

Even if you have money in municipal bonds in California, that’s still a pretty risky bet. All in all, it’s hard to justify buying a home or investing at all in a bankrupt state like California. So if your career or spouse takes you to Los Angeles or San Diego enjoy the experience – just make sure you’re renting while you’re living there.

Don’t fall into a mortgage death trap and end up with a home in an area unable to produce their own goods and services without government assistance. These are the areas that will be hit the hardest in the fiscal cliff aftermath. 

Story courtesy of the Wealth Wire.  

 

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    Total 8 comments
    • Usefuleater

      Seven Steps for We the People to reclaim our Nation…

      First, We the people must demand zero tolerance for Congressional gridlock and bi-partisanship…no legislation, no compensation, period.
      Second, End the Federal Reserve Act of 1913 on its 100th evil anniversary. End the Fed and cancel the bogus National Debt owed to the Federal Reserve international banking cartel
      Third, arrest all Bankers involved in the sale of derivatives and other worthless paper.
      Fourth, put an immediate moratorium on banking initiated illegal foreclosures.
      Fifth, create Treasury-backed Silver Certificates to replace the Federal Reserve Note.
      Sixth, the State Legislatures must come together as one body with the military oathkeepers to stop this globalist agenda and overthrow those in the Federal Legislative and Executive Branches of government in a peaceful transiton of power back to defenders of the Republic and away from the Globalist puppets that are attempting to destroy the nation and deliver the remains to the United Nations!
      Seventh, impeach any president that doesn’t comply with the will of We the People.

      The Feds are completely under the control of the Zionists bankers. If the State and local governments together with State and Local Law enforcement, Attorneys General, State Militias, National Guard and Military Oathkeepers can’t come together as a single body to defend the American people against this federal system run amock, and re-take the Republic from this silent enemy, then America has already lost the Third World War. What is your choice as Americans? Join with the States, Counties and Municipalities to end the forced tyranny of the Federal Reserve Act of 1913.

      • Equalizer

        Bullseye Usefuleater!

      • Anonymous

        Quote: “Third, arrest all Bankers involved in the sale of derivatives and other worthless paper.”
        Forgot to add, “give them a FAIR TRIAL & then HANG THEM!

    • Chris Jacob

      Don’t fool people with picture perfect images of cities, the inner core is rotten….The soul of America is currupt, not matter how much you photoshop it…it ain’t getting any better..

    • Stan

      Usefuleater, I’m sorry to say, but it’s too late… The sheeple of spoken and your words will only be met with ridicule….. :oops:

    • Anonymous

      There is no will power to do anything. We have all been passivated and are on the road to ruin. The only thing to look forward is the rebuild on the other side.

    • Buckworth Jackson

      IF you want to survive the coming collapse, then go to Montana or Wyoming. Idaho has too many Mormons, all of whom will kill you in a heartbeat if told to do so by their leaders. See Mountain Meadows Massacare for further details. :idea:

    • rev

      There are more than two categories: There are makers, takers, and thieves. The thieves are not makers, they are appropriators, requisitioners, mercenaries of eminent domain, bloating and padding their own bank accounts with the spoils taken from land owned by other people — all over the world. They call themselves makers, but they are the biggest takers. Not only that, but they produce those other “takers” they call welfare recipients, because wherever they go they leave huge numbers of people in poverty. And, since they need the government to pave the way for their thieving, through campaign contributions, kickbacks and threats, and military might, the government payroll grows with their greed.

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