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Austin, San Antonio, Nashville, Tampa, Orlando, Raleigh/Durham, Charlotte, Phoenix, and Boise.
Ahem...
I'm omitting cities where homeless are free to shit in the streets, free needles are passed out, and the city council is communist.
What about Dallas, Miami, Denver, Detroit, San Diego, SLC, Portland, Minneapolis? Wouldn't a few of these also be included on that list
I'd consider Dallas a major market - DFW currently has ~7m residents. Ditto for Houston and Atlanta. Denver for sure, but way too much money pouring in. Salt Lake City and Provo are great candidates, Minneapolis is OK. The others, in my opinion, have various issues.
Too late for Austin no?
Hard to tell at this point. The market is definitely hot but from a long-term perspective I think the city still has a lot of growing to do.
Austin land prices are absurd, design standards in and around CBD create very high building costs, and the municipal approval process is becoming one of the toughest in the country.
That said, the suburbs are growing quickly as Austinites become more and more willing to suffer a commute for a dramatic COL decrease.
PYONGYANG, NORTH KOREA
Denver has great fundamentals but is relatively full. The true story, as it relates to industrial, is a lot of stock was sucked up by marry jane users. The resultant was less availability (due to new tenant base, obvi) and jacked rents (MJ users pay above market). It is deeper than that but a consideration.
SLC/Utah County are neat. Friendly business environment, strong infrastructure investment (private/public partnerships) and population growth. Not to mention the Mormons are less and less influential as time goes on (important). Silicon Slopes office / flex market is great, The issue there is your exit. These deals will stay occupied forever but it's tough to lure investors there (kind of important)
SD just doesn't "get it"... The absence of a true CBD (not relation to the MJ mentioned above) is a challenge. Their attempt at increasing public transit range is misplaced.
Vegas is getting interesting. Lots of developers got smoked there but seemingly the lesson has been learned this cycle.
Portland is basically primary at this point... no?
Agree with all of your points, except for decreasing Mormon influence being beneficial. Their presence is the main reasons why crime rates are so low. All of the data I see coming out of Las Vegas is very positive. Maybe LV will finally begin to materially diversify out of gaming//hospitality.
Agree that the Mormon culture is beneficial in that it promotes a clean and controlled community. Disagree that their influence as it relates to developments, investment sales, etc. is. The market may be described as incestual (how is that note a word).
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