What makes a market a "Secondary Market" in real estate

[Johnny Hiatt]

I have been reading about the rental market shifting to "Secondary Markets" such as Atlanta, Phoenix, Las Vegas.  What makes a market a "Secondary Market"?  Just trying to understand the terminology being used so I'm not off base with my investing strategies....

[Andrew Johnson]

@Johnny Hiatt  Even the good folks at CBRE talk about it being "clear as mud". That said, the article at least information how they compute Tier I, II, and III markets. That said, I'm sure you could have a rousing debate as to if Portland (as an example) is a Tier II or a Tier III market.

http://www.cbrecapitalwatch.com/?p=1655