Connecticut has topped the list of all US states for about a century, when it comes to personal income per capita. Alaska had a brief run at the top, when oil money was distributed to all citizens. Massachusetts has been steadily growing closer, and, this year, beat out Connecticut by a few hundred dollars.
That's not really the news, of course. The news is that many people do not realize that Connecticut, which has languished over the past 35 years in job growth and recovery from downturns, is far more affordable than they knew. The fact that income and population have not been keeping pace with the rest of the country means that real estate prices have been tamped down.
If you pursue that train of thought, it seems likely that appreciation in housing prices and commercial sites will outpace other places on a percentage basis. If they get more expensive at the same pace as in other locations, the percentage gain in Connecticut will be greater, since it is starting from a lower base. That's good news for both buyers and sellers: Sellers, because it will possibly bring more buyers to Connecticut versus other states, and cause those that are here to buy more real estate; and buyers, because there is more potential for upside gain.
It's true--every cloud has a silver lining!
