Elmira & Ithaca Named To Worst Housing Market List
ELMIRA, NY (WENY)---Two Twin Tiers communities have made the list for "The 15 Worst Housing Markets For The Next Five Years."
Yahoo Finance and The Business Insider ranked Elmira as seventh worst and Ithaca as 11th worst. The publication says home prices are projected to increase 3.9-percent nationwide between now and 2017. But, Elmira's housing is expected to grow 1-percent.
Yahoo Finance cites an 8.8-percent unemployment rate and a median family income nearly $5,000 below the national median for Elmira.
Ithaca's housing growth is expected to rise 0.8-percent. Yahoo Finance says home prices in Ithaca are 0.5-percent lower than their quarter four 2009 peak.