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Tuesday, November 15 2011 - By Landon Myers
Wealthy consumers are buying second homes in warm places.
A recent poll by Harris Interactive asked Americans what state they would move to outside of their current location, and the majority of the results were states that experience ample sunshine and have beaches.
The top three responses were Hawaii, California and Florida, which have been in the top three the past eight times the poll has been conducted. Rounding out the top five states were Texas and Colorado, with Texas jumping up from the eight spot last year. In terms of preferred cities, New York City topped the list, followed by San Diego, Seattle and Dallas. Cities Americans would prefer not to move to included Detroit, Los Angeles, Washington, D.C., and Chicago. The New York Times reported that the preferred states and cities might see an uptick in home sales, as wealthy buyers are helping fuel the struggling housing market with second home purchases. Low mortgage rates, plummeting home prices and stock market volatility are pushing many affluent Americans to invest in a second home and take advantage of the economic climate. The report shows many consumers are buying small, affordable properties in favorite vacation spots such as Miami or California. More News |
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