I
f you're planning to buy a home within the next five years, some experts advise steering clear of certain states. GoBankingRates polled seasoned real estate professionals for their take on which states to avoid. New Jersey topped the list due to its exorbitant property taxes, notorious traffic congestion in North Jersey, and a mass exodus of corporations taking jobs with them. Yawar Charlie, a Christie's International Real Estate broker, also cited high health insurance premiums as a significant burden for residents. "The state has some of the highest health insurance costs nationwide," he noted, "adding another layer of financial stress." Commuters to New York City face daily frustration from congestion and traffic.
Other states on the list include Louisiana, West Virginia, California, Illinois, and Florida. Factors contributing to their inclusion are drought and high prices in California, hurricane risks in Florida, a budget deficit and crime concerns in Illinois, a struggling economy in West Virginia, and aging infrastructure and high costs in New York.
realestate
New Jersey ranks among US states with highest costs for homeownership.
Experts point to multiple factors driving up housing costs, beyond high property taxes alone.
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realestate
Rockford Housing Market Gains Momentum with New Hispanic Real Estate Partnership
City leaders expect NAHREP to boost Hispanic homeownership rates.
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Commercial Real Estate Forum Held by Southeastern Association
Sandoval Economic Alliance holds partner luncheon at Quezada's Comedy Club, focusing on commercial real estate.
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realestate
Rockford Housing Market Gains Momentum with New Hispanic Real Estate Partnership
City leaders expect NAHREP to boost Hispanic homeownership rates.