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Non-Tech : Investing in Real Estate - Creative Opportunities
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To: John Vosilla who wrote (2362)7/31/2014 6:10:30 PM
From: tejek  Read Replies (1) of 2722
 
What would drive the higher prices? Most Midwest markets are experiencing anemic employment and income

This huge difference between home prices and cost of doing business not only with the coasts in the USA but most any large city anywhere in the world will attract more people with wealth as well as business relocating. Add in infrastructure in place and climate change and access to water we talked about before. Plus values are far below replacement cost another factor hindering new construction adding to supply as these markets improve. Remember they need only a small incremental gain in both incomes and population for this to happen. It is not like NYC or SF has had high growth in population either probably since you and I were born either

I think the rust belt cities are starting to do the right things and maybe in 20 years they will see some appreciation but I don't think its eminent. Even now the best Midwest markets have very cheap housing. Denver, Des Moines, Madison and MPLS all have solid employment growth but none have housing prices anywhere close to the coasts. I think fairly tepid in migration [with the exception of Denver] along with lots of empty flat land keeps housing prices fairly low.
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