Alabama slow market growth
My friend just became an agent in Alabama, he told me Alabama property market grows slowly and will continue keep growing, will catch up the growth rate as in other cities. He said is good to invest there because all the big cities do not have reasonable cap rate and the appreciate any more is in doubt. I have been in Alabama Montgomery airport once, I feel the economy is so weak compare to SF, LA, Dallas.... I believe less then 100 passengers in the airport when i was there and Montgomery is already the biggest county in Alabama.
Some areas in Alabama, the property price keep going down since 2010. Generally is raising slowly. You will not likely to see this happening in CA anywhere. For example, once the CA property market going down hill. I believe Alabama will be follow quickly. Plus there has high vacancy rate like 12%. So, I think I consider invest in other state rather then in Alabama. Please let me know what do you think of what I think?