Forbes.com recently posted an article entitled ‘America’s Post-Subprime Boomtowns’. It calls out the top ten markets in the country that, in some cases have suffered the most as a result of the sub-prime melt-down, but that are poised to come roaring back after the fall. Not surprisingly, California cities are in 7 of the top 10 spots – and right up at the top of the list are Perris in #5 spot, Temecula coming in at #3 and
Murrieta at #1.
“Woodbridge joins Murrieta, Calif., Queen Creek, Ariz., and Port St. Lucie, Fla., on a list of towns that have been ravaged by subprime mortgages and foreclosures but where buyers are returning the market. Using data from RealtyTrac, an Irvine, Calif.-based foreclosure listing firm, we examined every U.S. town with a population under 100,000 to identify places where purchases of foreclosed properties have surged most in the last year to get a sense of the towns in which buyers are investing”
It’s a well done article supported by a slide show summary of each market backed up by stats from RealtyTrac, Bureau of Labor, Foreclosure Radar and others. If there was ever a doubt in your mind about our status in a year or two, a quick read through this article will let you sleep a littler easier at night.
Rounding out the top 10 for California, Brentwood at #4, Antelope at #6, Hesperia at #8 and Lincoln at #10. #2 goes to Woodbridge, VA, Queen Creek, AZ comes in at #7 and Port Saint Lucie, FL comes ion at #9.
You can read the article here: America’s Post-Subprime Boomtowns
& check out the slideshow of top 10 here: America’s Top Ten Boometowns
While you check out the article, you might want to check out the companion piece entitled ‘America’s Fastest Dying Cities’. #1 on that hit parade, Bensenville, IL,. Most of these places are located in the rust belt and auto manufacturing and related industries factor heavily in their make-up. After the pounding we’ve taken the past couple years, I’m still happy to be sitting here in Murrieta, CA on a rainy February afternoon instead of up to my cajones in snow in Hamtramck, MI (#8). No offense to Michiganders.