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Alcona is a city located on in northeast corner of Michigan on the shore of Lake Huron and next to the Huron National Forest. It is also located near Lake Hubbard which is one of Michigan's largest inland lakes. In its early history lumbering and fishing were the big industries in Alcona. Today tourism is the major attraction to the area. Tourists flock to the seashore of Lake Huron and to visit the national forest. One of the most popular attractions is Sturgeon Point Lighthouse, built in 1869, which is the oldest lighthouse on the Great Lakes. Alcona is located in Alcona County which has its county seat in Harrisville. As of the 2000 Census, the county had a population of 11,719. The median income for a household in the county was $31,362 which is well below the national average of $41,994. Over 12 percent of the population lives below the poverty line. The state of Michigan has been hard hit by the recent decline in the real estate market. Employment in the state has been especially negatively affected by the closing of manufacturing and automobile facilities. Alcona has not escaped this decline in employment. In 2007 the county's employment declined by 2.8 percent. Conditions in 2008 do not appear to be improving since the county's employment is down year-to-date with the unemployment rate reaching 13.1 percent in the first quarter of 2008. During the second quarter of 2008 the unemployment rate declined slightly to 10.5 percent, but it is still more than double the national average. Alcona's population has also declined since 2000. Consequently, the real estate market has suffered over the past several years. In 2006 there were 58 permits for new construction in the county. Year-to-date for 2008 there have been only 22 permits for new construction. The median price of a home in the county is $139,400. Home prices have declined 2.21 percent when compared to the same period last year. But the cost-of-living in Alcona is also 21.36 percent lower than the United States average. The future for the real estate market in Alcona does not look bright. Over 60 percent of the houses and apartments in Alcona are unoccupied, a number four times higher than the national average. The median age in Alcona is over 58 years of age, and the aging of the population does not bode well for the city; in twenty years most of the current population will be gone, and there appears to be little interest by others in moving to the area. With over 60 percent of the houses lying vacant and an aging population, there is a lot of property available.
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