Ten Cities Ready to Bounce Back
This is a great article. I’m going to abbreviate most of the information.
Ten Cities Ready To Bounce Back By Paul Kaihla, CNNMoney.com
The common thread between all these cities is that they’re relatively affordable. They missed out on the housing bubble, yet they still enjoy steady employment and income growth. Five of the ten are state capitals with a hefty public payroll. With the exception of the 3 Texas cities, the big national builders didn’t make significant incursions into these other markets.
These underappreciated — but soon-to appreciate – housing markets offer real opportunities to the savvy investor.
1. Dallas-Ft. Worth
2. Indianapolis
3. New Orleans
4. Atlanta
Projected median sales prices for single-family homes:
Q1 2008: $177,750
Q4 2009: $187,640
Growth: 5.6 percent
“Hotlanta” boasts one of the highest rates of job growth in so-called creative-class occupations in the country. Why? It’s the top destination in America for young professionals, a transportation hub (Atlanta’s airport is the busiest in the world), and a place where most Fortune 500 companies maintain a regional presence. Projections by researchers at the U.S. Census Bureau and Virginia Tech place Atlanta at the center of a “megapolitan” cluster of urban sprawl that will develop over the next quarter-century, encompassing 7 million people. This points to another nice real estate play: As buildable land around the city disappears, downtown neighborhoods on the brink of transformation are ripe for investment.
5. Montgomery
6. Memphis
7. Mobile
8. Austin
9. Houston
10. St. Louis
