Best Cities to Buy Into

"Where's my government cheese?"

Forbes has just released it's list of World's Best Places for Real Estate Buys. And the top 5 are... the envelope please... ah, yes...

No. 5: Shanghai, China - What makes Shanghai attractive is the chance at getting discounted properties in a market that overheated in the last decade.

No. 4: Tokyo, Japan - Tokyo a safer bet in terms of determining reasonable valuations, since there are fewer unknowns (subprime loans) in the property market.

No. 3: New York, N.Y. - According to Cushman Wakefield, a New York-based commercial real estate firm, prices have started to slip in even premium areas like 57th Street or Soho, though this hasn't yet appeared in quarterly reports.

No. 2: London, U.K. - Even as the country sits firmly in recession, London is a market where investors feel safe making long-term plays and believe they can get reasonable discounts on prices.

No. 1: Washington, D.C. - At present, D.C. has the lowest unemployment rate in the country--4.1%, compared to the 7.2% national average. With President Obama's stimulus package recommending $1 trillion in new spending, it's unlikely government jobs--and those they support--will be leaving the District anytime soon. [Gov't cheese factor... 10.]

Of course, no one in their right mind would live in a city anyway. ;)

Green Acres intro 1966