There's NOVA and then the rest of Virginia. A lot of areas in Appalachia are like this, WV just doesn't have any major economic hubs like the other states do.
State with the high percentage of home ownership.... West Virginia.......
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There's NOVA and then the rest of Virginia. A lot of areas in Appalachia are like this, WV just doesn't have any major economic hubs like the other states do.
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If you look at any State - you see just about every rural county loosing population, and every city gaining population over the last decade. You can follow this link and look by state. For example - Texas - huge growth in the last decade, but its all Dallas / Houston / Austin/San Antonio. Same in Florida - Miami, Orlando, Tampa. All the other more remote counties in those states are shrinking.
Maybe the simple answer is that West Virginia rural areas are shrinking like everwhere else, and since there are no ciites to go to - people leave the state. People that own their home are less likely to flee - so with fewer people, more own their home?
Here is WV. The only growing counties are a couple near DC, and a couple near Morganton (UofWV). https://usafacts.org/data/topics/pe...inia/?endDate=2021-01-01&startDate=2010-01-01
Maybe the simple answer is that West Virginia rural areas are shrinking like everwhere else, and since there are no ciites to go to - people leave the state. People that own their home are less likely to flee - so with fewer people, more own their home?
Here is WV. The only growing counties are a couple near DC, and a couple near Morganton (UofWV). https://usafacts.org/data/topics/pe...inia/?endDate=2021-01-01&startDate=2010-01-01
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I don't go by state I go by more local percentage as in the town you live in. My town is 91% owner occupied
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While that is very useful for actually purchasing a home - its not so meaningful from a macro economic sense. Many small towns make it impossible to have apartment buildings due to zoning. So it doesn't really tell you a whole lot about the state economics or housing market.
WV is somewhere in the middle overall tax burden:
Although they were considering doing away with their state income tax at one time recently.
Doesn't prevent a homeowner from renting out their house, and may make it more lucrative to do so.
Yeah, same for Long Island, NY
Im surprised to see such a dysfunctional story from Motley. It seems like the author didnt write the story and some clueless individual did. Unless I am missing something in my quick skim over it. Im not sure what to believe.I mean it's pretty obvious.
Average house price by state
The average house price in the United States as of the fourth quarter of 2023 is $417,700. See how states compare here.www.fool.com
The writer uses the same numbers fur two different words in the story and both words are two completely different sets of stats yet the story uses one set of stats for both the words "average price" and "median price" So are the charts properly labeled median? or should it be labeled average?
I suspect median but since both terms are used one would question which is it... really strange to want to rely on the data not knowing what the writer is talking about.
Just one example - direct quote
"
Average home price in the United States: $436,800
The median home sales price is $436,800 as of the first quarter of 2023. "HUH???
State taxes for retirees and non retirees can be very different!
Best States to Retire for Taxes 2024 - Tax-Friendly States for Retirees
Some states have taxes that are friendlier to retirees' financial needs than others. Use SmartAsset's set of calculators to find out the taxes in your state.
smartasset.com
State and local government employee pensions.
GON
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I think is what caught my eye when researching West Virginia as a retirement state (cut and pasted from your link":State taxes for retirees and non retirees can be very different!
Best States to Retire for Taxes 2024 - Tax-Friendly States for Retirees
Some states have taxes that are friendlier to retirees' financial needs than others. Use SmartAsset's set of calculators to find out the taxes in your state.
Overview of West Virginia Retirement Tax Friendliness
Social Security benefits and other types of retirement income are at least partially taxed in West Virginia, but seniors can claim a deduction to offset some of those taxes. West Virginia has some of the lowest property taxes in the U.S, and its sales taxes are also quite low.Some states do not tax SS and other retiree income. For a retiree, although low sales tax is awesome, retired folks are often not big retail spenders.
GON
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Ag,
Lots of information on housing be posted as "facts", when they are anything but, and often taken out on context, not holistic, or using stale or erroneous data.
One of many things in the article that conflicts with other published data is California/Colorado home prices..I have read multiple articles stating that Colorado home prices are now higher than California, and Colorado has the second highest home prices by state in the USA.
I think the take away is it is very easy to publish a article without statistical training or understanding. And many if not most of housing articles published are weak articles, regardless of the source. One really needs to peel back the onion to grasp the housing market and what to pay for a home.
Yes, but he comes from a county of 1.4 million people which is significant and in the country homeownership rate is still over 80%.
It's one of a few most wealthy counties in the country.
Nassau County, New York - Wikipedia
There is one county to the right of Nassau County, Long Island with a far greater land mass but still over 80% home ownership.
As posted home ownership goes up over 90% in many of those towns and yet still 80% with close to 3 million people is pretty significant.
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Nick1994
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Lmao I mean in the entire state there’s got to be some jobs better than the Dollar General
The average wage is $49k in West Virginia
$58k in AZ
$146k vs $409k in AZ for a house is quite the leap.
GON
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Good points, but statistics without full context don't always tell the entire story.Lmao I mean in the entire state there’s got to be some jobs better than the Dollar General
The average wage is $49k in West Virginia
$58k in AZ
$146k vs $409k in AZ for a house is quite the leap.
Arizona is full of retired folks, often with deep pockets that came to Arizona from California , Illinois, new Jersey, etc. These retired folks paid big money for their Arizona home. These same retired folks don't work, and skew the average pay versus home prices in Arizona. I suspect very few moving trucks of well off retired folks from California heading to West Virginia. But maybe they should, they may actually enjoy "Americana" in Wild West Virginia.
Lmao I mean in the entire state there’s got to be some jobs better than the Dollar General
Sure, there are some....but not many, not enough to nearly sustain the population. There's a bunch of old company towns in the state that have zero services for the residents and literally all that is open is something like a Dollar General with an hour+ drive to anything else.
Let me say this -
WV isn't ALL horrible living conditions/etc. I understand there is a lot, I've seen a lot of what is typically thought of as WV.
BUT WV is a Beautiful state, it has some of the most spectacular views, views that city folk who have no skills but lots of money desire on Saturday and Sunday, when they want to "get away from it all". Most likely some of that statistic yields to the puzzling percentage.
I've said this for years- if we were to win one of those huge lottery payouts, we're not moving from where we live. I do intend on the following:
1. Buy a 1/2 share in a G5 or similar aircraft. Hire a pilot full-time, he's on 48 hour notice. We live 13-14 minutes from a very nice municipal airport and the entire community is 60% airline based employees.
2. Buy a property in the Sarasota area.
3. Buy a property in the Appalachians, most likely in the southwest Virginia area or in West Virginia. Somewhere along the I-64 corridor.
4. Buy a property on a specific lake in the southeast.
We will travel between them, using the plane to/from Sarasota and WV/VA. I would even buy a couple of properties in WV, the terrain is so different, I'd like to have a mountain house and possibly a farm/cabin/barn area in a valley for UTV/Off-road vehicles.
WV isn't ALL horrible living conditions/etc. I understand there is a lot, I've seen a lot of what is typically thought of as WV.
BUT WV is a Beautiful state, it has some of the most spectacular views, views that city folk who have no skills but lots of money desire on Saturday and Sunday, when they want to "get away from it all". Most likely some of that statistic yields to the puzzling percentage.
I've said this for years- if we were to win one of those huge lottery payouts, we're not moving from where we live. I do intend on the following:
1. Buy a 1/2 share in a G5 or similar aircraft. Hire a pilot full-time, he's on 48 hour notice. We live 13-14 minutes from a very nice municipal airport and the entire community is 60% airline based employees.
2. Buy a property in the Sarasota area.
3. Buy a property in the Appalachians, most likely in the southwest Virginia area or in West Virginia. Somewhere along the I-64 corridor.
4. Buy a property on a specific lake in the southeast.
We will travel between them, using the plane to/from Sarasota and WV/VA. I would even buy a couple of properties in WV, the terrain is so different, I'd like to have a mountain house and possibly a farm/cabin/barn area in a valley for UTV/Off-road vehicles.
I think ALL states should do this, or at least threaten to and increase sales tax on beer, cigarettes, rolling papers, energy drinks and lottery tickets.
If a major part of the population has decided not to work and your revenue is based on people working......
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