USA property hot spots

[magic torch]

Anyone know where they are, any ideas on up and coming places over there?

Often toyed with buying somewhere in the US, and obviously the weak dollar is making it more attractive.

Thanks

[B17NNS]

Have heard you can make a few quid buying off plan in Vegas.

[timmy33]

It might be wise to wait for the dust to settle a bit before jumping in right now. After all new build prices dropped by about 8% in Sept. Reasearch I'd say. Lots of it. Or look at Canada.

[magic torch]

timmy33 said:

It might be wise to wait for the dust to settle a bit before jumping in right now. After all new build prices dropped by about 8% in Sept. Reasearch I'd say. Lots of it. Or look at Canada.

Been looking at the US for about 18 months, obviously it's becoming slightly more attractive. Would be several months before I did anything anyway.

Just wondered if there's anywhere I've missed.

[timmy33]

magic torch said:

timmy33 said:

It might be wise to wait for the dust to settle a bit before jumping in right now. After all new build prices dropped by about 8% in Sept. Reasearch I'd say. Lots of it. Or look at Canada.

Been looking at the US for about 18 months, obviously it's becoming slightly more attractive. Would be several months before I did anything anyway.

Just wondered if there's anywhere I've missed.

Don't think so. I'm looking North of the border, but that's as much as play on the mining/oil sector as anything. Alot of Western Canada is booming as miners are upscaling hugely, paying top dollar, and housing supply can't keep pace with the influx of workers.

I'm taking the view that something fundamental has to change about an area, a new road, a new airport, or a sudden influx of capital. Then the inevitable happens, a local re-rating of property.

Of course there must be towns in the US that are also seeing alot of commodities related activity?

Edited by timmy33 on Tuesday 5th December 11:03

[tinman0]

Try the lower southern states, especially near military bases. You get the best of both worlds - states that are constantly rebuilding because of hurricanes which in turn keeps employment high (so high in fact that contractors from all over the states head south), and if you are near bases you also get military families, which tend to be the ones who don't bring in top money, but will always pay each month, and they won't (can't) trash the place either.

[emicen]

tinman0 said:

Try the lower southern states, especially near military bases. You get the best of both worlds - states that are constantly rebuilding because of hurricanes which in turn keeps employment high (so high in fact that contractors from all over the states head south), and if you are near bases you also get military families, which tend to be the ones who don't bring in top money, but will always pay each month, and they won't (can't) trash the place either.

Isnt that a bit of a gamble, assuming someone rebuilding houses will stay in yours vs. yours gets blown away and needs rebuilt?

I believe today magazine print a most desirable to live in list of 100 US cities each year. Probably worth searching for a couple of years worth and see what cities are climbing the scale year on year as their prices will most likely be climbing quicker due to the desirability.

[tinman0]

emicen said:

Isnt that a bit of a gamble, assuming someone rebuilding houses will stay in yours vs. yours gets blown away and needs rebuilt?

Depends on what you have it insured for. If the rebuild cost is higher than your purchase cost, then who cares if it gets blown away. Insurance company is about to pay a dividend. Just got to make sure you are insured.

The only problem with the sourthern states is getting insurance at the moment, and also if you are purchasing a property in hurricane season. If a hurricane is about to enter the Gulf, or is in the Gulf, you won't get cover until its gone past. Which just means you need to make sure your timings for closing are right, or that the hurricane is heading in the other direction.