Emerging Real Estate Market Indicators

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Hi all,

I've been doing investment real estate for about 10 years. I've noticed that most of the emerging markets identified by others tend to be large-scale metro areas. By definition, these markets appear to have already emerged. Is anyone out there looking for the next big emerging market that isn't a star on the map yet? If so, what are the identifiers that would be used?

The identifiers I have are:

Federal and state capital investments
Diverse Economic Engines, (stablility, growth, and creation)
Municipal Infrastructure (city services)
Transportation systems (imports/exports)
Quality of life (leisure, entertainment, cost of living)
Tourism draw
Real Estate Price Points (Can money be made...cashflow rentals, landbanking, etc)

Any insights would be great!