Housing markets that once were deemed “value-oriented” have become less affordable during the pandemic, which is creating opportunities in the next emerging markets, per John Burns Real Estate Consulting.
In the spirit of the men’s and women's college basketball tournaments, Burns managing principals Ken Perlman and Lesley Deutch picked their Final Four bracket for the next emerging markets with two metro markets each in what they’re calling the Southeast Conference, the Western Conference, Perennial Powerhouses, and Bracket Busters.
Many of these “next” markets have a common theme: a university presence that provides the benefits of a big city lifestyle with a smaller town atmosphere, including an ever-expanding intellectual base, culture such as music and theater, and of course sports ...
… with limited homes available for sale; all-time low mortgage rates; all-time high levels of personal wealth, savings, and home equity; a projected economic recovery; strong demographics; and an accelerated pivot to the ability to work remotely, we think 2021 could be One Shining Moment for many of these next emerging markets.
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