A lot of markets got crushed during the Global Financial Crisis. Many of them had a run-up in both housing deliveries and subprime loans in the mid-2000s. When the economy crashed, they got hit exceptionally hard.
But now, in the COVID crisis, these markets like Atlanta, Phoenix and a number of Florida locales are the hottest metros in the country. As their housing markets are taking off, industrial demand is following.
"A lot of these growth markets were the boom-and-bust markets of the housing bubble," says CoStar Portfolio Strategy Senior Consultant Juan Arias. "But that doesn't mean they're not great markets now. We're not in the same type of boom-bust housing cycle that we saw. In fact, we're under-housed now."
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
