The real estate markets that have the highest populations tend to have the highest housing prices. Think of cities like New York, Los Angeles, San Francisco, and Seattle. Just a few years ago, these bustling metros were packed to the brim with tech workers, all of which contributed to housing shortages and sky-high home prices. Now, with remote work the new norm, these big cities are seeing their populations slowly start to siphon out to more affordable housing markets in America.
As an investor, you may ask yourself, “where are the most people (and money) headed?” In this episode, Dave Meyer and David Greene will answer this exact question. But, it isn’t as easy as solely looking at population growth. Dave and David go deep into the data to see where businesses, tech jobs, and high salaries are moving so you can make the best bet for future equity plays. And even though it seems like Miami, Austin, and other booming markets have already priced out most investors, recent price drops could be a short-term loss that leads to your long-term gain.
But even if you know where Americans are migrating, you’ll still need to know the “why” so you can find future markets fitting these criteria. Dave and David touch on how work from home changed the housing market, why the pandemic split the nation into affordable and unaffordable housing markets, and how something as simple as a warm day could heavily impact where the best investing opportunity is. So stick around if you’re planning on buying, investing, selling, or moving in 2023!
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Books Mentioned in Today’s Show:
Long-Distance Real Estate Investing:
Real Estate By the Numbers:
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Migration, Inflation, and Why Big Cities Are Losing Their “Desirable”
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Episode 729
Show notes at: #realestatepodcast #biggerpockets729
00:00 Intro
01:13 Quick Tip
03:27 The Great Reshuffling
09:58 Why Are Americans Moving?
20:56 Winning and Losing Housing Markets
24:09 Where Businesses Are Moving
34:14 Sun Belt Cities Primed for Growth
39:09 What to Look for in a Real Estate Market
44:14 Connect with Dave!
Recommended Reading >> bit.ly/32kRpzw
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