Job Growth or Job Stagnation? Which Location is Better?

[Jennifer Brown]

I watched a video recently on a guy whose strategy in choosing a multifamily investment location is to find slower job growth. His philosophy is if wages are stagnant, then there won't be any raised rents and therefore, there won't be any merchant builders adding new product to the area. Thus being one of the only good renting options. 

Now on the same token, I've also seen that in choosing a location, you should make sure there is job growth and population growth. 

So my question is what are the pros/cons of both methods? I'm not even sure the first option is a good strategy so I'm anxious to get people's opinions!