Capitalizing on Growth of an Area
BP,
I live in an area immediately outside of Jacksonville, FL that is growing very rapidly. There has been a major uptick in property development (single family neighborhoods and multifamily apt complexes) permit applications. I'm unsure of where all the people will be coming from to support (and live in) such an increase in development. I'm concerned there may be a glut of housing in the not-so-distant future if all planned development actually is constructed and there is no MAJOR driver for an increase in population.
Does anyone have experience with such a rapidly growing area? If so:
1. What are some surefire ways to profit from such growth?
2. How do I hedge against an oversupply of housing if I'm looking to invest in small multifamily units (or is this even a valid concern)?
Any insight is appreciated!