I frequently get asked where the good markets are, where people should invest, or where are the markets that are poised to take off with significant growth. My first answer is usually for people to invest where they are right there in their own market. It is much easier to start investing where you live because you can see the properties, you can meet your team members face to face, and it is overall just an easier process. That is not to say you can’t invest in other markets it just takes a little more time and effort and due diligence.
It’s not all gloom and doom out in the market. While it may seem like that sometimes, there are those “experts� that don’t think it’s all that bad. Here is a short study done by Forbes that offers some positive signals on 10 markets across the country. According to Forbes, these 10 markets would be a good place to start in evaluating different cities to invest.
Markets That Are Doing Just Fine, Thanks
Some cities aren’t feeling the pain of falling home prices or rising unemployment. Despite the national slowdown, they’re doing just fine.
To identify the economically healthiest cities, Forbes magazine examined key measures in the country’s 50 largest metros. The magazine studied unemployment and job-growth data from the Bureau of Labor Statistics, home price data from the NATIONAL ASSOCIATION REALTORS®, and information on gross metropolitan product growth provided by the U.S. Conference of Mayors.
Here are the 10 cities that Forbes sees as practically recession-proof, along with the percentage of growth for median-priced homes in the past year.
Oklahoma City, Okla. Median home price: +8.2 percent
San Antonio, Texas +7.9 percent
Austin, Texas +6.4 percent
San Jose, Calif. +11.2 percent
Raleigh, N.C. +4 percent
Salt Lake City +2.5 percent
Houston +1.1 percent
Seattle +1.2 percent
Charlotte, N.C. +3.3 percent
Dallas-Fort Worth +.5 percent
Source: Forbes, Matt Woolsey (04/29/2008)
Posted by Carter Brown
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