729: The 10 Real Estate Markets Primed for Long-Term Growth in 2023
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!
In This Episode We Cover:
The ten real estate markets that are seeing massive migration even in 2023
The “great reshuffling” and how a nomadic work culture changed America’s housing landscape
Work from home’s effect on migration, high-paying jobs, and home prices
How political stances and low/no income tax enticed many Americans to leave their home states
The housing markets seeing the BIGGEST population drops and where not to invest
Where businesses are moving, and the sneaky tax incentives states use to entice corporations
Why short-term price drops DO NOT predict the future of the housing market
And So Much More!
Links from the Show
Find an Investor-Friendly Real Estate Agent
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Get More Deals Done with The BiggerPockets Investing Tools
Find a BiggerPockets Real Estate Meetup in Your Area
Migration, Inflation, and Why Big Cities Are Losing Their “Desirable” Status
Book Mentioned in the Show
Long-Distance Real Estate Investing by David Greene
Real Estate By the Numbers by Dave Meyer
Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-729
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