These 3 Real Estate Markets Are in Trouble

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Elizabeth O'Brien is a senior writer at MONEY

Who are the biggest employers in your area? The answer can have a big impact on the health of the local real estate market. The more industries in a given area, the more robust its housing market. New research highlights the cities that are most vulnerable to weakness today: Las Vegas, Miami and Detroit, which have high unemployment in their dominant industries. This doesn’t mean you should avoid living in or retiring to those areas, if you love them. It just means being realistic about how much money you can expect to get when you sell (and really, this goes for all homeowners, no matter where you live). This is especially true since you can't always control the timing of your sale--a new job or a move to a care facility might require a relocation when market conditions aren't optimal.

Last Friday's newsletter omitted the link to our latest story on RMDs. Here it is!

Best wishes & Happy Juneteenth!

Elizabeth

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TIMELY RETIREMENT NEWS, INSIGHTS, AND ADVICE

Hint: they're highly reliant on one industry.

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RETIRE WITH MONEY COMMUNITY INSIGHTS

I'm excited for Monday, when we begin our Retire with Money book club discussion! The book is The Ultimate Retirement Guide for 50+ by Suze Orman, and it covers a lot of ground, from lifestyle choices like where to live, to portfolio construction and long-term care insurance. I'll kick things off Monday, June 22, with a live chat in our Retire with Money Facebook group around noon EST. I'll also post excerpts of the discussion in this space for readers who aren't on Facebook.

In a happy coincidence, my local PBS station is airing a Suze Orman special this weekend, based on the book. Check your local station to see if it's doing the same.

RETIREMENT NEWS FROM AROUND THE WEB

5 People Finding Purpose By Sharing Wisdom Virtually

These mentors are finding creative ways to connect remotely. NEXT AVENUE

SEC Chief Warns People Not to Use Penalty-Free 401(k) Withdrawals for Risky Investments

Only tap your savings in an emergency. CNBC

Insurers May Only Pay for Coronavirus Tests When They're 'Medically Necessary'

The federal government's coverage mandate is up for interpretation. NPR

How and When Can a Coronavirus Vaccine Become a Reality?

An exploration of the challenges ahead. PROPUBLICA

ABOUT ELIZABETH

Elizabeth O'Brien is deputy editor at MONEY. She has covered retirement and health care for nearly a decade. A Brooklyn resident and mom of two boys, she navigates the alphabet soup of Medicare and the New York City subway system with equal ease. You can email her at elizabeth.obrien@money.com and follow her on Twitter at @elizobrien.

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These 3 Real Estate Markets Are in Trouble

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