It's all about the methodology. Example: Greenville NC has a population of 91,495. That's under 100,000. That makes it a small city, not a mid size city. From an REI perspective, will my having an apartment complex there change when population is over 100,000? Other than hedge funds may (after population hitting 6 figures;) now consider it a mid-size city, there is no change on the ground. Did the fundamentals change? Not really. Did perception change. YES! The question become how much... and how do REI capitalize on it. I treat some of this as a big data kind of play. Maybe a 'tipping point' kind of metric. What I am getting at is... know who (and maybe even when) you want to sell your apartment to before you buy. As Wayne Gretzky said, (paraphrased, not a quote) play to where the puck is going to be, not where it is.
Neighborhoods... same deal. Thing gentrification. BOTG... and local history/knowledge/vision... see changes and play odds. No different in REI than, say, technology plays.
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