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Top 10 Clipboard: Cities To Love, Hate, Invest, Avoid

CNN/Money’s Business 2.0 [1] has several top 10 city ranking features that are kind of fun to read about. I can’t figure out why we would be curious about a top ten list. After reading a feature like the top ten places to live, do we pack up and move there? Do we call our parents and thank them or give them a hard time for making it our home? Or is it more reassurance that we are living in the right place or simply affirmation that we made a terrible error?

Top 10 cities: Where to buy now
The real estate slump could get worse before it gets better. But these 10 markets offer great opportunities for those who have the patience to buy and hold.

  1. Panama City, FL
  2. Vero Beach, FL
  3. Bridgeport, CT
  4. Lakeland, FL
  5. McAllen, TX
  6. San Luis Obispo, CA
  7. Wilmington, NC
  8. Manchester, NH
  9. Fort Collins, CO
  10. Atlanta, GA

Comment: I don’t see how Florida would have 3 of the top 4 cities to invest in with all the indicators of overheating.

Where not to buy [2]
_These 10 overvalued cities have run their course, and home prices are expected to drop over the next year._

  1. Stockton, CA
  2. Merced, CA
  3. Reno/Sparks, NV
  4. Fresno, CA
  5. Vallejo/Fairfield, CA
  6. Las Vegas, NV
  7. Bakersfield, CA
  8. Sacramento, CA
  9. Washington, DC
  10. Tucson, AZ

Comment: Six locations in California made the grade and the rest have reputations for high investor concentrations.

Bubble-proof markets [3]
_Short-term price drops are possible. But healthy economies and rising incomes will support these “superstar cities” over the long run._

  1. Boston
  2. San Francisco
  3. New York
  4. Los Angeles
  5. Seattle

Comment: With the inventory overhang in Boston and LA, I am not sure why they make the grade. The rest seem reasonable choices relative to the remainder of the country. San Fran, New York and Seattle are characterized by low speculation and solid economies. Missing 6-10.

Top 10 foreclosure markets [4]
_Where the action is – highest portion of households in foreclosure, from RealtyTrac._

  1. Greeley, CO
  2. Detroit, MI
  3. Miami, FL
  4. Indianapolis, IN
  5. Ft Lauderdale, FL
  6. Denver, CO
  7. Dayton, OH
  8. Dallas, TX
  9. Fort Worth, TX
  10. Atlanta, GA

Comment: With the exception of Florida and Georgia, all locations are not located near the coasts. The Midwest is seeing the auto industry struggle which is affecting employment. These Florida markets have heavy investor concentrations.