It's home to one of the top colleges in the U.S., Wellesley College, and is close to a major metropolitan area known for its culture and high property values.

FORBES: Real Estate

High wages and property values mean it is difficult to start a business in the area, or even to maintain one.

ECONOMIST: Natural gas in Wyoming

State and local governments are in a heap of trouble, struggling with budget deficits as sharply declining property values and high unemployment have cut deeply into their tax revenues.

FORBES: Jobs Report Shows Serious Problems For Recovery

This would particularly upset homeowners in London and the south-east, where property values are especially high.

ECONOMIST: Caution will trump valour