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On The Market

4 States With the Strongest Economies and Investing Potential

On The Market

BiggerPockets

Investing, Education, Business, News

4.8859 Ratings

🗓️ 10 October 2024

⏱️ 41 minutes

🧾️ Download transcript

Summary

**UPDATE: We recorded this episode on October 1st, as North Carolina was beginning to recover from the damage caused by Hurricane Helene and before Hurricane Milton had formed. We approached this episode as an exercise in economic analysis -- an in-depth market analysis should include a deeper assessment of environmental risk than we had time for in this discussion. And of course, no investment is more important than human lives and safety. If you’d like to contribute to ongoing recovery efforts, please consider doing so here. We talk a lot about the overall housing market, but what about the best states to invest in real estate? A state on the East Coast might see solid rents, booming business growth, and low inventory, while somewhere on the West Coast could be experiencing the opposite. At a state level, factors like economic strength, job growth, income tax, and others can greatly impact where Americans live and rent. So, which states would WE happily invest in now? Today, we’re sharing the four states we feel bullish about in 2024, specifically for economic growth. And when there’s economic growth, there’s usually excellent investing prospects. You may have thought about investing in a few of these states before, and one of them you may have forgotten was even a state (sorry to those residents), but all of them boast real estate investing potential that many other parts of the US lack. And, during a time when home prices are still high, some of these markets are seeing what could be a temporary decline, opening up the potential for you to go in and scoop up deals before their real estate markets begin to rebound. Which states are we most confident about? Stick around to find out! In This Episode We Cover Four states with booming economies and serious real estate investing opportunity The tiny state with below-average home prices and most of the Fortune 500 companies A southern state boasting serious potential as its real estate values try to recover  A “treasure hunting” housing market that may be overcorrecting a little too much Why more tech is moving into this East Coast state and pumping up its property market And So Much More! Links from the Show Join the Future of Real Estate Investing with Fundrise Join BiggerPockets for FREE  Find Your Next Investing Market Dave's BiggerPockets Profile Henry's BiggerPockets Profile James' BiggerPockets Profile Kathy's BiggerPockets Profile On the Market Episode 251 - Would You Vote for Any of These Market-Changing Economic Policies? What’s the Best Strategy for Your Market? Find Out with “Start with Strategy” Jump to topic: 00:00 Intro 02:52 1. Delaware 11:38 2. Texas 17:13 What to Buy in Texas 20:05 3. Florida 22:21 Businesses Love the Sunshine State 27:12 4. North Carolina  35:30 Best State to Invest? Check out more resources from this show on BiggerPockets.com and  https://www.biggerpockets.com/blog/on-the-market-259  Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

With all this news coming from the Fed and the presidential election going on, we're talking a lot

0:05.2

recently about the national economy. But every seasoned investor knows that the national economy

0:11.3

and the national housing market doesn't really impact housing prices or investment performance

0:17.7

as much as local economies. And although we do talk about specific cities

0:23.5

and neighborhoods on this show, we've sort of skipped what I think is a really interesting

0:28.2

level previously, which is talking about states and which states across the nation have

0:33.8

the strongest economies right now. Today, we're going to answer that.

0:42.6

Hey, everyone, it's Dave.

0:44.1

Welcome to On the Market.

0:45.7

We got the whole crew here today.

0:48.0

Henry Washington, how's it going?

0:49.8

Fantastic, man.

0:50.6

Great to be here, as always.

0:51.9

Kathy Fecky, thanks for joining us.

0:54.1

So happy to be here with you guys.

0:56.3

And we also have James Dainerd.

0:58.4

And although this show is supposed to be sort of a debate and we're going to crown a winner,

1:03.1

I think James has given away his bias a little bit.

1:06.0

Most people are probably listening to this as a podcast.

1:08.1

But if you are watching this on YouTube, you would see that

1:11.0

James is wearing a Washington-Dainard political campaign style t-shirt for 2028, James. Does this mean

1:19.8

you and Henry already have an alliance? Oh, yes. We have more than an alliance. We are ready to

...

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