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The Next Great Shopping Meccas

DigitalphillyAs home buyers get priced out of the market, other cities benefit from the spillover effect. WSJ published an interactive feature on six cities:

  • Baltimore - driven by young families willing to commute to DC, and interested in upgrading Baltimore's historic real estate
  • Ft. Myers - a tourism-friendly retirement alternative to West Palm Beach, Boca Raton and Delray Beach
  • Philadelphia - NY and NJ workers are finding affordable living here, with most houses sold in less than 30 days
  • Phoenix - California immigrants can save $100K on a house here
  • Reno - San Francisco Bay home prices is driving younger families to take advantage of low real estate taxes and no state income tax
  • Seattle - Former Californians who have earned some equity seem to flock to Seattle and surrounding cities like Tacoma

Shopping centers near growing residential areas are well-positioned to enjoy decades of solid performance. As REITs perfect their urban infill capabilities, properties like the Galleria at Tyler have matured along with their population.

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