729: The 10 Real Estate Markets Primed for Long-Term Growth in 2023

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 19 February 2023

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

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Summary

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 BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch 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 David's BiggerPockets Profile David's Instagram David’s YouTube Channel Work with David Dave's BiggerPockets Profile Dave's Instagram 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 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Bigger Pockets Podcast Show, 729.
0:04.5	When we talk about why I think it's a combination of factors,
0:07.1	but most of them are related to technology.
0:10.0	So if you think about the 50s,
0:12.2	what made someone determine where they're going to move
0:14.4	is probably where Dad's going to work.
0:16.0	So markets would explode stuff like New York or Boston.
0:19.9	You had these areas where like you mentioned San Francisco,
0:23.4	where you had to be physically present
0:25.1	because this is where things were done, Detroit, Michigan, right?
0:27.5	Like you moved to where the jobs were.
0:30.2	Well, internet has increased its capability rapidly
0:34.4	in the last 10, 15 years.
0:36.6	And we've gotten to the point where now people are specializing,
0:39.4	they work from home all the time.
0:40.7	What's going on everyone?
0:41.5	This is David Green, your host of the Bigger Pockets Real Estate
0:44.3	Podcast here today with my partner in crime, Dave Meyer,
0:48.7	to talk about real estate by the numbers.
0:51.5	Funny enough, that's the same book that he helped write with J. Scott.
0:55.4	We get into migratory patterns, absolutely.
0:58.6	We get into data, we get into information,
	...

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