Don’t buy a house in a state where private sector workers are - TopicsExpress

Don’t buy a house in a state where private sector workers are outnumbered by folks dependent on government. ...Eleven states make our list of danger spots for investors. They can look forward to a rising tax burden, deteriorating state finances and an exodus of employers. The list includes California, New York, Illinois and Ohio, along with some smaller states like New Mexico and Hawaii. If your career takes you to Los Angeles or Chicago, don’t buy a house. Rent. ...Illinois is especially known for its dishonesty, whether among officeholders (future license plate motto: Land of Corruption) or in the habit of under-accounting for promises to government employees. The Rauh study counted $66 billion in the till to cover pension obligations of $233 billion.

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