Tennessee Named Among States With Affordable Housing

Brett Arends from The Wall Street Journal Online has a post today on Realestatejournal.com. While the majority of the post deals with answering questions about the overpriced and bursting Florida real estate market, the last question he answers has to do with where consumers can find "cheap" housing:

"While the hot spots on both coasts ballooned wildly during the bubble, the "heartland" remains your classic overlooked value play. In states like Indiana, Ohio, Missouri, Michigan, Georgia and Tennessee, house prices are actually a lot cheaper, compared to personal incomes, than they were thirty years ago. "

Arends goes on to say that affordable housing is a major cost advantage when a company is thinking about where to locate itself. Definitely one of the reasons Knoxville was named best city to relocate to in '07.

More folks and businesses moving our way means a better economy and stronger home sales. Yeah!

Good news on a day with a lot of not so good news.

Q&A: Overvalued Markets; The "Affordable" Mortgage - Realestatejournal.com