MARKET & TRENDS
LOCAL MARKET MONITOR
"Go Northwest, Young Man."
JOB GROWTH (12 MONTHS)
HOME PRICES (2018)
HOME PRICE (000)
LOCAL MARKET MONITOR
PRICES VS. INCOME
Coeur d'Alene, ID
by Ingo Winzer
ack in the 1800s, Horace Greeley advised young men to
you'll end up with a scarce commod- ity in an area where future growth is almost assured. "Our Investors Metro Monitor shows you the risks and opportunities in 200 markets across the country, at www.LocalMarketMonitor.com." •
The tech industry may have ups and downs, but it's sure to keep ex- panding and the nine markets we've listed are prime territory for that kind of growth over the next decade. Home prices are already a bit high in Portland, and they've been surging in other markets because the inven- tory is so small, yet they're still ac- ceptable. The ratio of prices-to-rents is high for straight single-family rentals, but that's not what you want to do in these markets anyway. Find homes near the city centers and split them into rental units. It will take time and extra money, but
"go West" because the opportunities were all in their favor — although he didn't mention that they might not survive. These days, the risks are less lethal but the opportunities for investors are again ripe in some parts of the country. Think about the long-term flow of jobs and population out of expen- sive California (and Seattle) and into adjacent areas that are not only less expensive but also provide the type of lifestyle many younger professionals find attractive.
IngoWinzer is president of Local Market Monitor, which analyzes conditions in 300 U.S. markets, using such economic data as home values and growth in employment and population. Winzer, who has analyzed
Idaho Falls, ID
real estate markets for more than 20 years, was a founder and executive vice president of First Research, an industry research company that was acquired by Dun & Bradstreet in March 2007. He is a graduate of MIT and holds an MBA in finance from Boston Univer- sity. Winzer resides in Cambridge, Mass.
Source :: Local Market Monitor, 2019
92 | think realty magazine :: july / august 2019
thinkrealty . com | 93
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