Am I investing where the jobs are projected to grow?
I am a big fan of data analysis (that’s my day job). John Burn’s real estate consulting firm has a warm place in my heart for all of their smart and timely analysis of the real estate market. (I don’t work for them and I don’t receive any money from them to say that…)
I wanted to share an interesting post and charts by Pete Reeb (from John Burns Real Estate Consulting) on projected job growth in 17 cities from 2015-2017. Although they are discussing how California has and will continue to dominate where jobs are growing, it’s always good to look a little further down for those cities on the “come up”.
Now job growth is just one factor, probably a very important factor, for successful real estate investing (increased rental demand and quick sale of flips), but what do the folks who invest in these areas think about Mr. Reeb's job growth forecast? Other than the cost of real estate in the top few cities (NYC and LA), are there any other draw backs to investing in these cities? I like to look in the cheaper surrounding suburbs for good deals. Take a look at the entire post when you have time. Source: http://realestateconsulting.com/powerhouse-job-markets-california-dominating/
Job growth next 3 years (2015-2017)
Looking forward to Reeb's chart below, Atlanta and Phoenix stick out to me as a places that will see a good deal of job growth while still maintaining reasonable home prices. Note, TX is a bit lower on projected jobs-- perhaps due to falling oil prices. Also, I usually hear good things about Charlotte, NC but I don't see them on this list. What do you all think? @Thomas Whitehead what about you?
City (annual?) Projected # of job growth
New York City, NY 372,000
Los Angeles, CA 312,000
Chicago, IL 280,000
Atlanta, GA 262,000
Phoenix, AZ 170,000
Boston, MA 139,000
Dallas, TX 139,000
Orlando, FL 130,000
Riverside/SB, CA 117, 000
Seattle, WA 116, 000
Orange Co, CA 116, 000
San Diego, CA 109, 000
Houston,TX 102, 000
Denver, CO 67, 000
San Francisco, CA 62, 000
Austin, TX 62, 000
San Jose, CA 53, 000
Enjoy your day!
Genise