Mobile, Alabama
Population: 192,830
Located in Mobile County
Mobile, AlabamaIn October 2007, CNNMoney listed Mobile as one of the “Ten Cities Ready To Bounce Back,” from a study done by Business 2.0 and Moody's Economy.com. While other major metropolitan real estate markets have begun to see a decline, Mobile is expected to have significant home appreciation over the next 2 years, from a median home sale price increasing from around $135,000 to $141,000, at a growth rate of 4.7% (from the beginning of 2008 to the end of 2009). For young adults, families and retirees, the time to buy a home in Mobile is now! As home buying trends are starting to move away from the coastal markets and more towards the Mid-Southern United States, Mobile’s close proximity to the coast and other major metropolitan cities, coupled with a growing economy, has garnered this city a premier home destination. In Mobile, homebuyers are able to purchase a beautiful home in a great area, without the staggering costs that are associated with other large cities in the South and around the country. But you have to act fast, in just a year, a 2,000-square-foot, 3-bedroom home, jumped from $157,000 to $170,000. With its low property costs and taxes, many businesses are turning to Mobile to build their next project. With an unemployment rate declining drastically over the past 2 years, it is projected to be less than 2.0% by the end of 2010, a significant decrease from the beginning of 2006, when it was at 5.1%. One of Mobile’s major employers, Alabama State Docks, has seen tremendous growth in less than a decade, expanding their facilities by over 1,000%. The relocation of the auto industry has brought over 2,000 new jobs in Mobile and German corporation, ThyssenKrupp began construction of a $4.1 billion steel mill in 2007, employing over 2,700 and creating another 5,000 in association. Located on Mobile Bay, EADS North America has just opened facility, creating 150 engineering jobs designing Airbus’s long-range jets. Photo Source: wikipedia.org, asms.net, ums-wright.org, and Donovan Ravenhull
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