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I currently live in Portland, Oregon. The real estate market is sizzling. The same can be said about other mid-sized cities such as Denver and Seattle. Based on infrastructure, governance, real estate, and economic development, what major city would you qualify as a blue chip stock in 2017?
Last edited by The Global Citizen; 01-12-2017 at 12:04 AM..
I thought this was going to be about what cities have strong economies, or are building infrastructure so they can continue to prosper, etc. My answer would be very different from what might be a good place to live. At minimum, some sort of criteria or explanation would be useful.
I thought this was going to be about what cities have strong economies, or are building infrastructure so they can continue to prosper, etc. My answer would be very different from what might be a good place to live. At minimum, some sort of criteria or explanation would be useful.
Good point! I added criteria and concentrated on the overall concept.
Dallas, Atlanta >>> those two have very diverse economies, and tons of room to build up and out without terrain getting in the way. (although some mountains or an ocean would be nice) Also both for now are reaping the benefits of people and companies fleeing some of the more expensive areas of the country for a somewhat cheaper cost of living. Dallas especially because of central geography and great infrastructure. Atlanta needs to build another major airport to relieve Hartsfield.
Dallas. For some reason or another, that metro area continues to power itself into another league entirely. Atlanta and Seattle would be the next two, but I worry for Seattle if a signficant tech downturn occurs especially under Trump.
I would put my money in NYC, LA, Dallas, Atlanta, Boston, San Francisco, Chicago and Philadelphia.
NYC is an obvious choice. Dallas, Atlanta, and LA are going to continue to be on fire.
San Francisco and Boston are hot.
Chicago and Philadelphia you say? They're not going to be the fastest growing markets, but they're going to continue chugging along at a steady clip. They're not going to see any Downturns due to their extremely diverse economies. They'll get you returns on your investment, and they're relatively low risk.
Seattle obviously has a strong market, but it's primary industry is tech. It's not diversified. Seattle could realistically see a slow down any year now. I don't think it will, but it's just an uncertainty that I wouldn't place my money in.
DC is too unpredictable with the Trump administration coming in. Houston seems to be on a slow down now. Miami is way too unpredictable. It has a relatively weak economy, and most of it's real estate is driven by international investors. Miami is also overbuilding condo and apartment supply. This city could see a bust any year now.
I think the Seattle area is going to continue to do pretty well - the economy is more diversified than most think. I believe Boeing and its associated industries are still the largest employers in the region. Throw in Sbux, Costco, Nordstrom, Weyerhaeuser which are all based on more traditional industries and I think it'll do just fine.
That's not to say tech isn't playing a big role - Amazon with its huge campus taking shape downtown, old stalwart Microsoft over in Redmond, and Apple/Facebook/Google increasing local presence due to Bay Area and local talent looking for a more affordable but still west-coast living situation.
Truthfully, I don't think Philly, Boston, or Chicago should be on the poll since they are more mature, stable metros with average growth rates. You could make a similar case for NYC but since it's just a different beast altogether, it should probably be included.
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