How do I know where to buy the future?
Investing in Real Estate is a tricky endeavor. However, some research reports that are provided by popular magazines are a good place to show you what may be good to buy for the long run.
For example, an article recently published by Forbes identified the “Best States for Business.” Well, if the state is good for business, it probably means the state is also good for jobs and is a boost to the local economy. The higher demand of people moving into the areas makes it an easy decision to buy in those locales. Virginia topped the list (no wonder why D.C. is so expensive — even though I realize it’s not a part of Virginia, it basically serves as a county of it, LOL), but the article focused a lot on my home town: Seattle.
I’ve always new that it was the best place in the country despite the gloomy jokes about the rain. It has literally the best weather in the summer & has almost no humidity during the summer despite being next to the Puget Sound with 2 other major lakes lodged off to the immediate east. It has the best of everything including one of the largest, if not largest software companies in the world, the largest plane manufacturer (even though they’re headquartered in Chicago), one of the largest paper companies (in Federal Way, just south of the city), one of the largest online travel and books/CDs stores, one of the largest logistics companies for package deliveries, one of the largest cell phone providers…shall I continue?
There was another report/article that identified some recession/bubble proof markets for real estate. Seattle was on the list of the short list of 5 including San Francisco (4.2% appreciation since 1946 - to 2006), Los Angeles (3.7%), Seattle was 3rd in appreciation since 1946 (to 2006) at 3.2%, Boston (3.0%) and New York City at 3.0% as well. Las Vegas, Floridian cities and Phoenix were missing from the list.