Here is a pertinent follow-up to Mike’s Reno: Detroit of the West? post from yesterday.
Friday’s Wall Street Journal reported on new Investor Suitability report by Local Market Monitor (9/30/2010). The study analyzes trends for lenders, builders and investors across 315 U.S. metro markets. (populations greater than $200,000).
The WSJ article, 10 Best and Worst Markets for Real Estate Investors, reported the findings as two top-ten lists: Most Conservative for Investors and Most Dangerous for Investors. From the WSJ story: "High-ranking areas for investor suitability are places where there’s a positive three-year home price forecast, employment is stable and only a small share of jobs are in highly volatile industries such as construction and financial services…dangerous markets are those where it appears prices will fall further and probably won’t turn around soon because of poor local economies."
Did Reno-Sparks make a list? If so, which list?
| rank | metro area |
| 1 | Tulsa, OK |
| 2 | Oklahoma City, OK |
| 3 | San Diego-Carlsbad-San Marcos, CA |
| 4 | Albany-Schenectady-Troy, NY |
| 5 | Indianapolis-Carmel, IN |
| 6 | El Paso, TX |
| 7 | Winston-Salem, NC |
| 8 | Cincinnati-Middletown, OH-KY-IN |
| 9 | Worcester, MA |
| 10 | Louisville-Jefferson County, KY-IN |
| rank | metro area |
| 1 | Ocala, FL |
| 2 | Lakeland-Winter Haven, FL |
| 3 | Reno-Sparks, NV |
| 4 | Orlando-Kissimmee, FL |
| 5 | Deltona-Daytona Beach-Ormond Beach, FL |
| 6 | Port St. Lucie, FL |
| 7 | Las Vegas-Paradise, NV |
| 8 | Boise City-Nampa, IN |
| 9 | Prescott, AZ |
| 10 | Cape Coral-Fort Myers, FL |
Zinleaf
The greatest opportunities are going to be in the top 10 dangerous metro areas. Find the most out of favor markets and do your research for a 5 year projection. It is already to late in the top 10 conservative areas.
bob_c
Lemme tell my son who graduates college this year to head to oklahoma.
Juneau
14% unemployment. 600 NODs a month. The primary industry is on life support.
30% of those with a job work as a hotel maid or a waitress or a bartender. A $3 billion dollar budget deficit starting in 2011.
Hey, Reno-Sparks looks like a hell of a fine deal over the next 5 years.
Zinleaf
The Primary Industry is no longer at least in Northern Nevada. Local economy rotating to new influx of business sectors. Just like Sac many years ago when their major employment was the military bases which supported most of the Sacramento economy. They closed and the biggest boom since the 50’s and 60′ happened after they closed. It took a while but it happened. California taxes will drive companies from the state at increasing rates over the next 5-10 years. I think it was Rockefeller that said the time to buy is when blood is in the streets.
inclinejj
I think it was Rockefeller that said the time to buy is when blood is in the streets.
It was J.P. Morgan who said that
Zinleaf
I stand corrected: Baron Rothschild, an 18th century British nobleman and member of the Rothschild banking family, is credited with saying that “The time to buy is when there’s blood in the streets.”
Rory
Juneau apparently thinks the Northern Nevada Metro is static and lacks dynamism. An assumption made only by fools and their fanboys.