We know there’s a widening geographic economic gap in the United States, most vividly described in the months leading up to the 2016 election as a battle between the “left behind” and the “coastal elites.”Now we have new detail on how that breaks down by locality. One in six Americans are living in ZIP codes that are considered economically “distressed,” according to the Economic Innovation Group’s 2017 Distressed Communities Index. More than 84 million others—one in four—live in communities that are considered prosperous.
“You have at the top a really strong, booming, disproportionate amount of growth happening in elite communities,” explains John Lettieri, EIG’s senior director for policy and strategy. “And at the bottom it’s not just that the gap is getting bigger between top and bottom—it’s that they’re pulling in opposite directions.”
By tracking data from over 26,000 ZIP codes, the Distressed Community Index sorted cities, counties, and congressional districts into tiers based on their economic well-being: prosperous, comfortable, mid-tier, at risk, and distressed.
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Now is the time to put your home on the market if you are intending to sell this year.
As you know North Texas has experienced a tremendous population growth in the last year and it is expected to continue for quite some time. There are some reports that say over 300 people per day are relocating to the area.
The relocation spurt from companies such as Toyota, State Farm, Fed Ex, Liberty Mutual and others have helped push home prices up as well as create a shortage of homes in certain price points. Of course, this is great if you are a seller.
If you are thinking of selling your home so you can downsize, upsize, or relocate now would be the time to do it whole school is out and buyers have the time to look at homes over the summer.