In a 2017 article published by Governing , Paul Gottlieb, an economist at Rutgers University, argued that metropolitan areas with stable or slow-growing populations are likely to have greater economic prosperity. According to Gottlieb, data suggests that mayors shouldn’t use population increase as a guaranteed route to a better economy.
Population growth also leads to overcrowding and increased demand for housing, infrastructure and services. In terms of real estate, population growth is a crucial factor in determining how home prices in a given market will perform, according to Business Insider . If more people are moving to a city than leaving, it could increase the demand for housing and push up home prices. Home price appreciation is great news if you’re a homeowner, but it makes buying a home slightly harder.
In a recent report, Exploding Topics identified the fastest-growing U.S. metro areas by using data from the U.S. Census Bureau and related sources. Here are the top 10 on the list where you shouldn’t buy a home if you want to avoid an overcrowded market.
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