Real Estate In Youngstown In Ohio Going Cheap
Although very often it is observed that rising property prices lead to a corresponding decline in the crime rate of an area, this is not always true. Youngstown in Ohio is one such exception. According to the national median prices, a home in Ohio should be typically priced at $225,000. But, many people in Youngstown are disposing off their properties at much cheaper rates – as low as $100,000 and sometimes even less than that. The main reason behind this is an alarming increase in theft and crime rates.
Youngstown has been one of the hottest real estate markets in U.S. The housing boom in this town is at its peak. According to statistical data prepared by Economy.com and Fortune magazine, the increase in house rates in this region has been estimated at around 3.7 percent, which is the highest in the entire Midwest region. But in reality, homes in this region are being sold at prices that are three times lower than the median price.
There has been a disturbing increase in the incidents involving car theft, burglary and larceny. The crime rates have been steadily escalating. Compared to the 2004 data, FBI’s Uniform Crime Report has stated that in 2005 the crimes involving violence have increased by 10 percent and those involving burglary have risen by 20 percent. This increase is not only limited to Youngstown. It is also prevalent in other real estate markets such as Syracuse and Rochester where there has been a steep increase in property rates.
According to Jason Whitehead, chief of staff for Mayor Williams, Youngstown is still trying to cope with issues relating to unemployment and poverty that are the main reasons for increase in crime. Things are slowly changing. With Mayor Williams concentrating on increasing job opportunities through industrialization, hopefully the crime rates would eventually come down.
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