Archive for Weak Markets
Filed under Weak Markets
Located on New York’s southern border, Binghamton is a city of 250,000 in and around the surrounding area. Binghamton University is the lone University of the city and attributes a whopping $700 million to the city economy each year. Every 1 in 10 workers of the city is somehow connected to Binghamton University.
Binghamton prides itself as being the “Carousel Capitol of the World” as it has 6 old-fashioned, wooden carousels. These historic items attract many tourists of all ages to the region. Its other claim to fame is that of being the birthplace of computer manufacturer IBM.
$92,538 is what the average home in the region cost and renters can expect to pay less than $400 a month. Workers in the area average $41,000 annually.
Filed under Weak Markets
Home of the Buffalo Bills of the National Football League, Buffalo is a city with a metropolitan population of 1.1 million. Buffalo is located on the west end of New York state and lies on the eastern side of Lake Erie. Surprisingly enough of a city so big, Buffalo was said to be the United States’ friendliest city. It emphasis on education and medical facilites have been two of the key factors which have gained the city such a reputation.
Buffalo has been a city for the manufacturing of automobiles since they were first invented and remains a strong part of its economy. Many Ford and Chevrolet production plants can be seen in the area. Since the year 2000, Buffalo has been an increasingly popular city for human genome research.
There is an abundance of trees in the region and has given rise to the city’s nickname City of Trees. Because of Buffalo’s location on the edge of Lake Erie, electricity production has been key support for the city and the climate is kept humid. Property taxes are higher in the region than most cities and the median home will cost $70,000. The low cost is offset by the proximity to the city center and the quality of homes in the area.
Filed under Weak Markets
Utica, like many other cities in the state, has fell upon hard times due to the collapse of the manufacturing industry. With a population of 61,000, Utica is also ethnically unique. 10% of its residents are immigrants from Bosnia or can trace their lineage directly back to the country.
Utica has a few famous foods that have risen from the city over the city’s history. Halfmoons, Tomato Pie and Chicken Rigatoni are the three major specialties.
The Erie canal, Mohawk river and New York Barge Canal pass through the north end of the city which impact the climate of the region. Property in the city is mainly found to be below $143,000 but will not appreciate in value short term.
Filed under Weak Markets
Syracuse has a metropolian population of 732,000 and serves as the economic heart of central New York state. The manufacturing industry in Syracuse was prominent until 1970 when major producers moved to find cheaper labor in China. In recent years, the Syracuse economy fell upon hard times and now the most prominent employers are the universities and other education facilities.
Syracuse has history that takes us back to the mid 1800 when Syracuse was a center for the growing abolitionist movement in the northern states. Many immigrants from Africa and elsewhere around the globe travelled to Syracuse because of its promise of freedom.
The region is famous for recieving the most snowfall over the winter months than any other city in the United States. In the summer months, Syracuse stays very mild with the average temperature in July of 82 °F (28 °C). The median home price for the city is $259,566 and does not look to be growing at a fast rate.
