Fastest Growing American Cities-Great places to invest in foreclosures!

The fastest growing American city with more than 500,000 people is Ft Worth. The next door neighbor to Dallas gained more than 20% to its current population between July 2000 and July 2006 according to the latest information from the U.S Census Bureau.  New York is competing with Ft Worth to be the fastest growing city in the U.S. New York gained 205,750 new citizens, more than any other city in the US in 2000. That is enough people to fill a city the size of Boise, Idaho-which brings New York's total number of citizens to 8,214,826, the most the city has ever housed. New York is one of the only major US cities that has not experienced a dwindling population in the number of its residents. The top 10 cities in 1907 included Baltimore, St. Louis, Cleveland, and Boston (none of which ranked in the top 10 over the past 6 years). Many of these major cities are simply losing residents from within the city limits, while the suburbs are growing in population. But even taking this into consideration, sun-belt cities are growing in population at a faster rate than older cities. All of the 10 largest cities used to be within 500 miles of the Canadian border-and now over half of the top 10 biggest cities are sub-belt cities-closer to Mexico than Canada. For example, Los Angeles, currently the 2^nd largest city had a population of barely over 100,000 in 1900. San Jose, San Diego, Dallas, San Antonio, and Houston all had populations less than 100,000 in 1900. Phoenix, which was not even among the 100 largest cities 100 years ago grew by more than 40,000 new citizens in a year. Phoenix passed Philadelphia to become the 5^th largest U.S. City. The biggest loser of the 21^st century so far has been Detroit (not including New Orleans, where more than half the city’s residents left after Hurricane Katrina). Detroit lost over 80,000 people, mostly as a result of job losses in the automotive industry. The fastest growing city with more than 50,000 residents was McKinney, Texas, which is one of the northern suburbs of Dallas. McKinney has nearly doubled in size to 107,530 since 2000.

 Because of the growth in these areas, foreclosures are currently a great investment. With these areas growing as quickly as they are, there is more demand for housing than supply. Builders cannot keep up with the expansion, and sellers are getting their full asking price. Foreclosures allow residents to purchase a house at less than they would from a builder or from another seller, and either live in it, or sell it for a quick profit.