Tuesday, October 14, 2008

It's No Wonder I Want to Leave

The news for Angelenos just keeps getting worse.

First LA was ranked last for traffic, intelligence and friendliness by Travel + Leisure. Then it was revealed that our fair state has the largest budget shortfall (22 billion dollars) in the country. Now, to cap everything off, Forbes has picked LA as the worst value for real estate in the US.

Naturally, I am aware that LA has an obscenely overpriced housing market. I also know that California has the second highest cost of living in the US. But to have LA home prices down 23% from a year ago and still be ranked as the dumbest place to buy a home in the entire country? That really put things into perspective.

Accordingly, a sizable exodus has begun, and several cities in the Northwest (including my crush, Portland, ranked 10th for "Best Bang for your Buck" by Forbes) are prime beneficiaries. To quote Forbes:

"Los Angeles' misfortunes, however, have helped boost the economy in cities like Portland, Ore. It and Seattle have become attractive alternatives for those looking to leave California in search of affordable housing and lower costs of living."

Looks like I won't be the first to seek cheaper pastures - or the last.

p.s. The "Best Bang for your Buck" city according to Forbes? None other than another crush of mine - Austin, Texas. In fact, four different cities in Texas made their top ten list.

p.p.s. Other cities in the ten worst values list included my recent date, Washington, D.C., and not surprisingly, my old beau New York City, who I am likely visiting at the end of this month.

2 comments:

Jessica said...

Visiting NYC at the end of the month?! Let's have a drink!

Kris said...

Would love to get together when you're in NYC if you have a spare moment!