Bradley DiTeresi is a Kansas City businessman who has a background in international real estate focused on condominiums in Peru. An avid reader, Bradley DiTeresi enjoys works by seminal Catholic thinkers, as well as investment-focused books.
A recent Forbes article took stock of the US housing situation at the halfway point of 2019, with a focus on the best investment opportunities. One aspect of the equation that bears careful consideration is the jobs market, which, despite stock market growth, experienced only a 1.5 percent growth rate—the lowest in several years.
Overpriced markets, where actual prices exceed the local “income” price by more than 20 percent, are particularly primed for falls. These are currently led by Miami, where real estate prices exceed this threshold by 45 percent, and are followed by municipalities such as Phoenix, Denver, Salt Lake City, Austin, and the greater Los Angeles area.
One challenging city to get a read on is Las Vegas, where prices have increased by 13 percent year-on-year, which looks at first to be unsustainable. However, unlike in Miami, job and population growth are robust in Las Vegas, which could lead to further gains over the next couple years.
Other cities with strong economies and real estate growth potential include Nashville, Colorado Springs, Charlotte, and Atlanta. Cities that have displayed persistent weakness but are now up-and-coming include Philadelphia and Fresno, while cities such a Dallas, Sacramento, and San Jose appeared poised for a “soft landing.”
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Bradley DiTeresi completed his undergraduate degree in psychology from the University of Kansas and pursued graduate studies in business administration at the University of Missouri-Kansas City (UMKC).