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Essex Co. most overpriced in the US

071706overpricedessexcounty.jpgForbes.com has ranked Essex County, Mass as the #1 most overpriced place in the United States. The ranking is based on median home price, cost of living, job growth, and a salary index. "We added up the rankings; the 10 metros with the 'worst' combined scores -- the highest -- made our list. They had the highest cost of living, lowest salaries, least job growth and least affordable housing." In Essex County the glut of dot com era McManions on the market are to blame for the high ranking, along with a high cost of living and mediocre job growth. The median home price is listed as $373,750.

We are doing our bit. With Washington Mill Lofts we will be bringing housing that is affordable, rental at first but condo in a few years. WM Lofts will be an economic spark for the neighborhood. And our redevelopment of the nearby Morehouse Bakery Building will bring new businesses and jobs to Lawrence.

Posted on Monday, July 17, 2006 at 12:02PM by Registered Commentertherevitalist in | CommentsPost a Comment | References1 Reference

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