All Forum Posts by: Divanshu Arora

Rеgаrdеd as the ѕесоnd lаrgеѕt metro area in thе region, Memphis has more renters than homeowners and is a hub for business activities that produces employment. 

Is Memphis going to be one of the best real estate markets for investors?

Since the start of the pandemic in March of last year, the median cost of an apartment increased from $923 dollars to $1,082 a month. 

For many tenants in Memphis and the Mid-South, the days of rent discounts and pandemic pricing are a thing of the past. The cost of renting in the Memphis area is beginning to soar in what’s being called a red-hot market.

When are we likely to see a price drop?

“The real estate industry is likely just at the beginning of a significant shift towards greater use of data and data-driven decision making — only 5% of real estate firms have transformation efforts led by someone with knowledge of data analytics.”

@Alex Uman I know what you mean, it's like the gap between people / firms using data and the ones who aren't is still huge. 

Although the pandemic situation has resulted in a huge reset across industries.. I see a hesitance/ resistance in adopting the data analytics or technology to good use. 

I recently read an article about the future of the real estate market and further predictions for the same. 

Some of the important points to be mentioned here: 

• 1. The real estate industry is likely just at the beginning of a significant shift towards greater use of data and data-driven decision making. However, in a recent NAIOP article, real estate professionals are facing challenges figuring out how to actually utilize data.
• 2. The KPMG Global PropTech Survey 2019 confirms that 80% of firms still do not have “most or all” of their decision making led by data.
• The same report also hints at a “skills gap” — only 5% of real estate firms have transformation efforts led by someone with knowledge of data analytics.

What would you say would be the challenges ahead of us in 2022?

On one hand it's a good news that there will be new opportunities coming to Memphis with the new Ford Electric Vehicle plant. 

I think it could potentially challenge the West Tennessee real estate market as it will need thousands of new homes and apartments for employees. 

Thanks for compiling the list. I found them very interesting especially point no 6 where you rightly mention, "Those who jump on the digital bandwagon will benefit significantly whereas the reluctant ones will have to suffer". 

I've been spotting some trends myself just by reviewing already available data points and have found that data does not lie but it may not tell the story you think it does. 

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@Dave Spooner 

I think people may be leaving the Northeast for a few reasons:

1. Harsh winters, since temperatures and snow can be intense in the region.
2. Job availability is another factor since many companies are avoiding the region.
3. The Northeast is also home to many cities with a high cost of living, making housing affordability challenging, especially as people lose their jobs.

Your thoughts on Which is the next hot property where most of America is Moving?

My friend asked me the question and I did not know what to tell him so I thought I'd post it here and see the response.