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Here are what a few think are the worst cities to buy property in the next five years.
Also see the worst projected states to buy property in the next five years.
The unemployment rate in the city is still higher than the national average, Johnson said.
Rivera suggested that investors should be wary of cities with similar dynamics.
Together, Springfield entails significant risks for an investor seekingdynamism, growth and stability.
This makes it a challenging city to find reliable tenants and sell properties quickly.
There are a large number ofvacant and dilapidated propertiesthat have a bad effect on property value, Davis said.
High property taxes and utility bills are also discouraging factors in this area, Johnson said.
Nosediving property values have left the city still reeling from this crisis, Davis commented.
The economic recovery has been painfully slow, with many residents leaving the area.
While thissmall California cityhas made a comeback of sorts, it still has tough times ahead.
It seems that Stocktons economy always booms and then busts, which affects property values greatly.
Davis added that Rockford registers a declining population and numerous vacant/separated properties.
The local economy remained in slow recovery as manufacturing had declined with a housing marker reflecting this instability.
Due to these challenging economic problems, the risks remain in investing inRockford real estate.
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