New Hampshire's real estate market looks a lot better than the rest of the country...but that doesn't mean it's great, either
The New Hampshire Association of Realtors came out with numbers today comparing housing sales from this past August to August of 2010 and found an increase of 14 percent. The group also reported that housing prices dropped two percent during the same time.
But these numbers don’t necessarily give the full picture of New Hampshire’s real estate market.
According to Dennis Delay, an economist with New Hampshire Center For Public Policy Studies, it’s better to look at numbers that cover several months. He says if you look at housing prices and sales for 2011 so far and compare them to the same 8 month period in 2010, the picture for the state is not so positive. Continue Reading →
Census data found New Hampshire households are less about the Benjamins...and all about the Jacksons
The new US Census data released this week shows that New Hampshire’s median household income is among the highest in the country. In fact, we’re one of only eight states where household income is above the national average. Median income in New Hampshire is $61,042.
That may seem like good money, but a closer look reveals that New Hampshire has less income disparity than most states.
“Warren Buffet does not live in New Hampshire, Bill Gates does not live in New Hamsphire, neither does Tom Brady,” says Dennis Delay an economist for The New Hampshire Center for Public Policy Studies. Delay explains that the reason the state’s household income seems high is because the poverty rate is low. “This is not a state full of millionaires, it is a state full of median income people and a state that lacks poor people.”
Belknap County now joins the growing list of New Hampshire areas eligible for public FEMA aid. Governor John Lynch made the announcement today. Most of the counties that qualify for federal help are only eligible for what’s called “public assistance.” That means FEMA will reimburse them for road repairs, debris removal, and other Irene-related damage to public facilities. Continue Reading →
The US Census Bureau released data today showing more kids living in poverty nationwide, but New Hampshire is among a small number of states that did NOT see an increase.
lori05871 / Flickr
Nationwide Census numbers show 22 percent of American children are now living in poverty
The Carsey Institute at the University of New Hampshire found that since 2009, a million more kids are living in poverty. But if you look at that number proportionately, the poverty level for New Hampshire’s kids has remained steady at 10 percent. That’s well below the national average of 22 percent.
“New Hampshire is typically rated one of the top places for children,” says Beth Mattingly, Director of Research on Vulnerable Families at the Carsey Institute. “What New Hampshire has going for it is a high standard of living, higher household incomes and generally a highly educated population.”
Mattingly’s analysis of the new Census numbers found that the highest rates of child poverty are in the state’s central urban areas, at 16 percent. The rates are lowest in the suburbs, where they’re around six percent.
Along with New Hampshire, several other states saw their child poverty rates remain the same. Overall, New England made a good showing, with Rhode Island and Maine holding steady. Wyoming, South Dakota, Colorado, Arkansas, West Virginia, and Delaware were among the other states that didn’t see a rise.
New England tends to have lower poverty rates overall. But Mattingly points out that while some states did not show an increase, they still have high rates of children living in poverty,
“Maine is a very different state than New Hampshire, and even though it didn’t see an increase, its child poverty rate is already high at 18 percent.” she says.
The Carsey Institute plans to look at the new Census numbers to find out who lacks health insurance in New Hampshire and in the rest of the country.
The big news out of the Seacoast last week carried a heavy tinge of disappointment. The plan to bring commercial airline service back to Portsmouth International Airport at Pease died suddenly after Streamline Air, LLC pulled out of the deal. Granted, the plan was less full-service and more along the lines of a token route–Portsmouth to Trenton-Mercer Airfield–but it was still a feather in the regional cap.
But that wasn’t what caught StateImpact’s attention. What we wondered is, why haven’t we ever heard of Streamline Air, and why in the world would they think Portsmouth-to-Trenton was a potentially profitable route? So we talked with Streamline Air’s Managing Director, Mark Cestari. Continue Reading →
This nasty little invader is infesting the region's raspberry crops.
Here’s an eye-catching quote from Boston.com, “‘These guys will go for even underripe [fruit], and they look a little bit different – they have devilish red eyes,’ Johnson said. ‘And the males have a black spot on their wings.’'” Continue Reading →
Mark Zuckerberg isn't a small business owner, and in a way, he never really was. StateImpact explains why not, after the jump.
Small businesses have often been touted as the engine driving the American economy. They’re tiny firms, sure, but they’re headed by strident entrepreneurs whose purpose in life is to innovate and grow their companies into world-changing enterprises.
Think Mark Zuckerberg and Facebook.
Bill Gates and Microsoft.
Think all the way back to Henry Ford and the Model-T.
Long-time Moultonborough Realtor Jim Mardis sums up the state of the second home market for StateImpact
StateImpact has been on the road this week, as part of our month-long series on the state’s vacation home economy. We headed to the mother of all New Hampshire tourism communities: the town of Moultonborough, along Lake Winnipesaukee. You may remember from our previous coverage that 61 percent of the homes in the area are second homes. Although it’s not the most heavily-saturated tourist town, Moultonborough does claim the highest raw numbers for vacation homes: 2,991.
As part of our Lakes Region meanderings, StateImpact popped by the Moultonborough office of Realtor Jim Mardis. He’s President of Century 21 Lakes Region Realty. Mardis has 34 years of experience selling primary and second homes in the area. And he does a booming business in the area, employing 22 agents. So we decided to find out what the town’s post-recessionary housing market looks like, from the realtor’s perspective. Continue Reading →
Nearly three weeks after taking heavy damage from Tropical Storm Irene, Route 302 at Hart’s Location is set to reopen to traffic tomorrow. A press release from Governor John Lynch’s office notes the reopening is nearly a week ahead of schedule.
Jennifer Cochran / Flickr
With both major east-west highways through the White Mountains open by tomorrow, the region is ready to host hoardes of fall foliage tourists.
Synchronized Manufacturing Technologies, Inc. closed its doors late last week. In the New Hampshire Business Review, Bob Sanders characterizes the company as “a Salem metal and electronic facility.” It was sold to Pennsylvania-based Da-Tech Corp. Sanders interviewed Da-Tech
James Walsh / Flickr
Although the state's manufacturing economy is far from dead, parts of it have been rusting away for some time.
President and CEO Paul Litwack for the piece, noting,
“According to Manta, the company had estimated annual sales of $2.5 million to $5 million and a workforce ranging from 10 to 19 people. But Litwack said that the company had struggled financially of late due to the recession, and was down to about 10 people when it shut its doors.”
Litwack told Sanders the Salem factory closure will be permanent, and the 10 workers will be unemployed, rather than transferred to other Da-Tech facilities.
While it’s one of a number of businesses that have closed since the onset of the recession, Synchronized Manufacturing’s 2004 opening–and recent closure–fit a number of patterns related to manufacturing in New Hampshire. Continue Reading →
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