Town is dependant on one company
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10/9/2006
The entire town of Los Alamos, and housing values there, are dependant almost exclusively upon the employment situation at Los Alamos National Laboratory. It is basically a company town. Generally, during the late 90s and early 2000s, the trend was upward. However, if you bought during a peak and were forced to leave during a valley, you could lose a lot of money. The uncertainties of a stop-all-work order in 2004; and the subsequent contract contract changeover from management soley by the University of California, to a combination with private contractors in May 2006, caused hesitation in the housing market, and great uncertainty about employment security and employee pensions. Just as it looked like the housing market was recovering; layoffs of from 350 to 600 people were announced in September 2006. More layoffs are likely in the future. This is a risky place to buy a house; or for that matter seek employment, if you're not stuck here already.
Chris | Los Alamos, NM