Struggling Rust Belt cities could be the smart move for retirees, according to this article.
The author is considering a retirement relocation to Cleveland, where her money will likely go far.
"Cleveland has (1) museums with parking by the front door; (2) a beautiful lake; (3) the Cleveland Clinic and other great health resources; and (4) a convenient airport. Oh, and one more thing: Cleveland has really cheap real estate. So I could take my Washington-Baltimore corridor housing money (median home value, $310,000) and trade it in for an average Cleveland house (median home value, $114,000). And THAT would give me almost $200,000 worth of cash that I could use to fly to Key West or Cozumel for the winters, even if I didn't downsize my house."
FULL STORY: Is Detroit the next retirement hot spot?
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UCLA Lewis Center for Regional Policy Studies
Mpact (formerly Rail~Volution)
Chaddick Institute at DePaul University
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