Bend among top 10 cities for retirement property steals

The states that took the brunt of the housing bust—like Florida, California, Nevada, and Arizona—also contain some of the nation’s most enviable markets in which to retire. Moody’s Analytics compared price-to-income data for 384 metropolitan areas to pinpoint affordable retirement spots. Bend made the top 10 for the following reasons:

“Stiff demand from second-home buyers helped nearly double median home prices in lovely Bend, Ore., between 1999 and 2006. But the subsequent real estate collapse has dragged the area’s price-to-income ratio from 3.4 in the third quarter of 2006 to 1.7 in the fourth quarter of 2009. That’s below Bend’s average price-to-income ratio of 2 for the 15 years ending in 2003. This increased affordability makes retirement property in Bend particularly attractive today. Lester Friedman, president-elect of the Central Oregon Association of Realtors said ‘Central Oregon has always been a place where people came to get away. And, of course, that is kind of the definition of retirement.’ Friedman points to a number of activities that can keep seniors busy in Bend year round, including hiking, mountain biking, skiing, fishing, boating, and volunteering. ‘We have wonderful college facilities, so continuing education is easy,’ he says. ‘You name it, we’ve got it.”

Other cities in the top 10 include Las Vegas, Phoenix, Napa, Fayetteville, Punta Gorda, Burlington, Fort Meyers, Santa Fe, and Santa Cruz. Here’s the entire article: 10 Cities for Retirement Property Steals

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