Good news on the real estate front today. The USA today came out with a study of the last US census in regards to homeowners who own their homes mortgage free. There are over 120 areas in the country where more than 40 percent of homeowners own their home free and clear. What does this mean for those specific markets. These are markets that have not seen a "boom" in real estate, or an exaggerated inflation, which causes many markets to see a gravity like effect or a correction in the market.
Two cities in West Virginia are listed as being in the top 5 for being mortgage-free. West Virginia's 12th largest city, Bluefield, WV comes out on top with 57% of people owning their homes with no mortgage. Bluefield, the air-conditioned city, also at one time had the distinction of being the highest elevation above sea level of any incorporated town east of Denver, Colorado, which I think has been taken over by a couple ski resort towns.
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