Raleigh didn’t exactly make the news for this, but a Florida Atlantic Uni. study of the most overvalued markets based on their rapid appreciation, etc. Raleigh placed 29th most overvalued with a premium of 27.9%, right between Buffalo at 28th (28%) and Greensboro (27.6%). Charlotte was 13th at 36.5%. Boise blew everyone away with a premium of 80.7%! Austin was second with 50.7%.
Raleigh recognized as one of " eight large tech hubs—New York; Boston;
Seattle; Los Angeles; Washington, D.C.; San Diego;
Austin, Texas; and Raleigh, N.C.—" and early adopter for AI. Brookings differentiates between Raleigh-Cary and Durham-CH MSA’s rather than combining it for an even stronger reading.
In addition to Raleigh being one of the eight large tech hubs (not including the “superstar” Bay area), Durham-Chapel Hill is mentioned as one of about twenty federal research and contracting centers.
PriceWaterhouseCoopers and the Urban Land Institute have released their annual Emerging Trends in Real Estate report. This is a high-profile and influential report, and Raleigh/Durham is listed as being the #2 market for Real estate prospects in the country. Last year, Raleigh was #1, and it is great to see another high ranking.
Agreed, it is a great report. I look forward to it every year. They put a lot of research and analysis into it. This one actually carries some weight with CRE professionals and investors.
At the end of the day I know we like to bash on Charlotte (frenemy vibes?), but it is astonishing to see both of NC’s biggest metros crushing it on these national ranking lists. On almost all the lists you see both Raleigh/Charlotte within a few places of each other. I think the continued growth of both of NC’s biggest metro areas will continue to encourage business to look here to NC for a long time to come.
Also we seem to be in a similar category as Nashville. For my money I’ll take the city that’s a couple hours away from a beautiful coast AND mountains. This to me is a major advantage.
It’s interesting to see Phoenix near the top of this list. They (along with all of the southwest and Southern California) had better find a long term water solution because the Colorado River is looking less and less reliable. Baseball is another thread but this same thing makes me wonder if Las Vegas will get an MLB team. “Someone” has to be looking at the city’s long term viability. Money continuing to pour into this area and south Florida make me scratch my head.
In regards to Vegas and MLB - I read the other day that the A’s are taking serious steps towards a move to Vegas. Three plots have been identified, and they are now willing to finance the whole deal. But you are exactly right, at some point - probably very soon - water is going to restrict growth. I recall a few years ago you could not build a new house or add a bathroom in Santa Fe unless you replaced two old toilets with low-flush models. Atlanta is also dealing with water issues - that is a questions of how they water they can take out of one watershed. But there, the growth will just jump to the next watershed, which is west towards me.