BOOM TOWN: Billings, Montana Tops Index

July 20, 2021 By E.J. Smith - Your Survival Guy

By Jeremy Janus @ Shutterstock.com

You have been looking to escape the city since 2020. Riots, looting, sickness; all have made it easier than ever to flee to a “zoom town.” My Super States have become popular destinations for many Americans who thought they’d spend the rest of their lives in big blue blob cities.

As evidence of just how eager Americans are to get away from urban dangers and out into the great wide open, Billings, Montana has topped the WSJ/Realtor.com Emerging Housing Markets Index. Nicole Friedman reports:

Billings, the biggest city in Montana, rose from the fourth spot to the first due to its low unemployment, affordability and booming housing market. With a metro-area population of about 184,000, Billings had a 3% unemployment rate in May, or about half the national rate.

Much of the strength in the Billings housing market has been driven by out-of-state buyers—from coastal states like California and Washington to Kentucky and Texas, said Deb Parker, broker owner of Parker & Co. Real Estate Services in Billings. Many move to the area because they have the flexibility to work remotely, she said.

“I believe Montana’s truly been discovered,” Ms. Parker said. “I’ve never seen so much cash in our market.”

About 65% of page views on Billings property listings came from outside the metro area in the second quarter, up from about 57% a year earlier, according to Realtor.com.

News Corp, parent of The Wall Street Journal, operates Realtor.com.

Billings, surrounded by multiple mountain ranges, was founded as a 19th-century railroad town. Today, new residents are drawn to the area’s hiking trails and other outdoor activities. Yet unlike some smaller U.S. cities, where second-home buyers have played a notable role moving in and boosting housing prices, about 3% of Billings homes are vacation properties, according to Realtor.com.

Billings is one of those places where you can live like a billionaire. Its location at the intersection of two of America’s growth corridors, the Intermountain West, and the Great Plains, make Billings a prime location for starting a business or raising a family.

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Action Line: If you haven’t already, it may be time to look for a better America.

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E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West (RIP JB) and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com To sign up for my free monthly Survive & Thrive letter, click here.

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