Louisiana City Lands on List of Worst Cities to Buy Property

SHREVEPORT, LA – This is one of those lists that is really disappointing. I don’t know if I believe much of what is in this report. But it’s bad news for one Louisiana city.

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What Is the List?

This is a list of the worst cities to buy properties in the next 5 years. It’s a report put together by the experts at Gobankingrates.com.

This report says:

Buying property is an aim for most Americans — just to have a place to call home that they own. However, in the next five years, there are cities that will pay off for buyers and others that will sink them.

This data from these cities comes from real estate agents who map out the plan for activity in these cities over the next five years.

What Louisiana City Lands on this List?

Shreveport is listed as one of the worst cities in the U.S. to buy property right now. What does the city make this negative circle of communities?

The report says

“The Shreveport economic growth rate has been modest, mainly because it is connected to the oil and gas industry, which, for the last couple of years, has become too volatile.”

Real estate agent Ben Johnson, the CEO of Big Ben says

“The unemployment rate in Shreveport is still higher than the national average and property values have been flat, and the local market has had to grapple with high vacancy rates and almost a total absence of major infrastructure developments.”

Johnson says this makes Shreveport less than perfect for property investment, especially if you are looking for big returns on your money.

But one big buyer apparently sees something different. We all know Curtis “50 Cent” Jackson must believe in Shreveport. He’s been buying up properties in downtown Shreveport with plans for some big developments. We want to believe Jackson, who is a businessman at his core, knows the future is bright for Shreveport.

READ MORE: 50 Cent Buying Properties in Shreveport

Change on the Way in Shreveport

This report does not include the recent passage of a massive bond package that will bring more than $250 million dollars in infrastructure improvements to the city. Shreveport is also the new home of an Amazon Fulfillment Center that will be opening in just weeks. The old GM plant also has new life with Schlumberger setting up a manufacturing facility at the old auto plant. Things are also popping at the port. And Bossier City will soon have a new land-based mega casino with LIVE set to open in the old Diamond Jacks location.

READ MORE: Bond Package Passes in Shreveport

So I believe things could be turning around.

What Other Cities Are on This List?

Atlantic City, New Jersey

Cited because of a declining population.

Ontario, California

This Golden State city is listed because of limited infrastructure.

Springfield, Massachusetts

Trouble for this community focusses on crime and slow job growth.

Youngstown, Ohio

Economic distress has been a major problem in this community.

Rochester, New York

Downsized industries have hit Rochester hard.

Gary, Indiana

The economy has also hit Gary where people have been fleeing to other more prosperous communities.

Flint, Michigan

The natural disaster with water is still causing problems in Flint even though the water crisis has been fixed.

Stockton, California

Foreclosures have had a major impact in Stockton along with an unstable economy.

Rockford, Illinois

The report says things have been stagnate in Rockford for more than 5 years.