Birmingham. Any revitalization projects?

[Account Closed]

I am interested in investing in the Birmingham area and would like to know if there are any revitalization projects happening in or around the city. Any big companies planning to move in? Any new construction going on? Any trendy little neighborhoods on the rise? What's currently happening in Birmingham?

[Mike D'Arrigo]

@Jarrod Cook You can find those kinds of accolades about almost every market. I'm not trying to slam Birmingham. I'm sure it's a fine city, but I was addressing your citing of the Rent.com study showing it as the 9th best city for renters. I don't want what is best for renters. I want what is best for investors. Low rents, high vacancies low rental appreciation is what makes a market good for renters. In contrast, Renters Insurance rated Indianapolis as the 2nd most landlord friendly market in the nation which from their point of view is renter unfriendly. Forbes just reported on a study showing Kansas City as having the 4th highest rental appreciation in nation at 8.8% per year. These are numbers that favor landlords, not renters. In spite of all the glowing things you shared, it doesn't change the fact that median income is 30% below the national average and the poverty rate is twice the national average. These are real numbers from the U.S. Census Bureau. Numbers like that don't bode well for strong rents and potential for rental increases. I don't mean to offend you but the numbers are what they are and I felt it necessary to point out the fallacy of being the best city for renters as somehow being good for investors. About a year ago, people were touting the same thing about Atlanta and it didn't make sense there either.