By: Anna Marie Hibble
On Tuesday we started with the doom and gloom by showing you the predicted worst places to invest in real estate in the coming new year. In the spirit of bad news first, here’s the good news. Experts also predict some “best” places to invest, American cities where the housing market is expected to a) rebound, b) stay strong, and/or c) improve. And this time, San Francisco proper is on the list. In fact, it tops the list.
Trulia, a top real estate site for buyers, sellers, and renters, has identified the 10 cities the site’s data and analysts thereof consider best positioned to thrive in 2011.
10 Real Estate Markets that Will Thrive in 2011
1. San Francisco, CA
2. Austin, TX
3. Madison, WI
4. Raleigh-Durham, NC
5. San Antonio, TX
6. Oklahoma City, OK
7. Des Moines, IA
8. Salt Lake City, UT
9. Fort Collins, CO
10. Omaha, NE
But, wait! We know San Francisco, real estate value-wise, has done fairly well, compared not only to a large portion of the Bay Area, but also to a large portion of California and the nation. However, the city is budget crunched, raising the cost of living, and dealing with historic high unemployment. Where does Trulia come up with such a sunny outlook? When asked, Trulia’s experts responded with these points, some of them very solid, and others perhaps debatable (and debate you will, in the comment section):
San Francisco, CA
1. Important note: many articles stating SF is struggling consider Bay Area (SF, San Jose and OAK) together, rather than looking at the city individually
2. 9.7% unemployment, but job growth in the high income/skill sectors required to buy a home there (one of the lowest in Calif., against 12% unemployment rate for CA)
3. Job growth over the decade: # of high-tech computer jobs in SF have doubled from 8,000 to more than 16,000 (SF Center for Economic Development) # of life sciences jobs in SF has grown 5X to 2,750, up from 500 in 2004.
4. Venture capital dollars invested into SF during the recession: over $6.3 B has been invested in software/computer and bio-tech Ã¢â‚¬â€œ just in 2010
So what do Bay Area residents themselves expect? We’re interested in educated reader predictions as much as we are in educated real estate professional predictions because, after all, one may have a bias….. while the other may not.
Read more: http://www.sfgate.com/cgi-bin/blogs/ontheblock/detail?entry_id=79090#ixzz18hCTXPMa