Unfortunately, with Fresno we return to the foreclosure-riddled Central Valley of California, to a town with a 16.8 percent unemployment rate. While the question of whether the poor job market caused the real estate crisis or vice versa is probably an unsolvable chicken-and-egg conundrum, the reality is that both sectors are depressed here, causing Fresno to rank at or near the top of foreclosure rate lists and bringing the costs of owning a home down significantly below the costs of renting one. Buyers who are tempted by the town’s price-to-rent ratio of 7 might take heart in recent reports that the area’s job growth and personal income numbers seem to be improving faster in Fresno than they are in nearby areas.
Property Address: 2106 West Alluvial Avenue, Fresno, California
Bedrooms: 6 | Bathrooms: 5 | Square Footage: 8,745
List Price: $2,490,000
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