While not the intent of the U.S. News piece, it’s a good reminder to never follow the hype. Buy property and live in places that suit your lifestyle best. Just a few years ago, Bend was flooded with speculative buyers and ranked consistently as a top destination for retirement. Today, the bottom has fallen out of the market, and it’s now top place to buy for another reason.

Is it a great place to live? Absolutely! But this serves as a good cautionary tale.

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“The real estate downturn has turned some very popular retirement destinations into bargains.

To determine where the prices are most attractive, U.S. News & World Report examined price-to-income data for 384 metropolitan statistical areas. This expresses the relationship between owner income and home values.

Here are 10 retirement havens where homes are most affordable by this measure:

1. Bend, Ore.
2. Napa, Calif.
3. Fort Meyers, Fla.
4. Fayetteville, Ark.
5. Las Vegas
6. Sante Fe, N.M.
7. Punta Gorda, Fla.
8. Phoenix
9. Santa Cruz, Calif.
10. Burlington, Vt.

Source: U.S. News & World Report, Luke Mullins (07/08/2010)”