According to WalletHub’s new ranking of state economic performance, California comes in third in a list of states with the best economies. The personal finance site came up with the list by comparing each of the 50 states, plus the District of Colombia, across 23 metrics ranging from GDP growth and business startup activity to venture-capital funding per-capita and percentage of jobs held by scientists and engineers. Each measure was weighted and divided into one of three categories: economic activity, economic health and innovation potential. Utah came in first, Washington ranked #2.
“States with high-performing economies typically have very low unemployment rates, higher annual household incomes and a smaller population living beneath the poverty line,” explains Jill Gonzalez, an analyst at WalletHub. “Most of those can be seen and felt throughout a state via nice, safe neighborhoods and schools or simply less homeless persons out on the street. Your state’s economy snowballs into your everyday way of life.”
The report goes on to say 2015 was a banner year for the U.S. economy. Why? Because of a strong dollar, job gains, lower oil prices, increased consumer spending, and general improvements in the housing and business sectors. Experts say we can expect steady growth ahead despite a slowing global economy. In the U.S., each state’s economy is complex. I’m sure you know that within each state, every county’s and community’s economy is also complex.
While California is #3 among states with the best economies, in my opinion, when it comes to many factors, the economies of Santa Barbara County, and especially Montecito, Hope Ranch or any of Santa Barbara’s upscale communities are #1! So, let’s work together to find you a home here. There are some amazing properties available right now. Please take a look at my comprehensive website then call me at 805.886.9378 or email me at Cristal@montecito-estate.com. I have all the intel on the real estate market here, plus I can share pocket listings with you: all perfect places in California, the #3 state with the best economy in the U.S.