Rich States, Poor StatesOct 23, 2018
If you've ever read "Rich Dad, Poor Dad", you know it's the gateway drug into the real estate investing world! So we were amused to see that title for this article on economic competitiveness between states. The article is written by ALEC.org and dives into "three important variables: State Gross Domestic Product, Absolute Domestic Migration and Non-Farm Payroll Employment."
A few highlights for the States that FIG currently builds in:
From 2006-2016, the average ranking for Texas in economic competitiveness was #1. They also experienced the highest amount of domestic migration of any state.
In 2018, Utah overtook Texas for the #1 ranking of economic competitiveness. It ranked an average of #4 in the 2006-2016 timeframe.
In 2018, Idaho moved up to #2 in the country. Migration, domestic product, and employment have all been accelerating rapidly, giving Idaho the biggest jump as we head into 2018.
If you're dying to know, we'll spoil this part of the article: the bottom 5 states are: New Jersey, California, Illinois, Vermont, and New York. Check out the article for more great information on this! If you're interested in investing with FIG in any of these markets, contact us today.