"St. Louis region falls out of the Top 20 metros in the U.S."

[Megan Greathouse]

In case my fellow St. Louis investors haven't already seen this...

http://www.stltoday.com/news/local/govt-and-politi...

[Megan Greathouse]

While it is a bit sullen, it's also not the disaster that the headline might initially suggest. Essentially, population is flat while other markets are growing significantly, thus bumping us down in the rankings.

I don't think St. Louis is at risk of some mass exodus in the near future... and I think some of the efforts with Cortex, 39 North, etc. could help reverse the (small) population declines and keep St. Louis healthy for decades to come. I don't know that we'll ever see explosive growth, but I think St. Louis can be a solid long-term investment decision if you understand the market.

My concern is buying right. There seems to be a LOT of out-of-state interest in St. Louis right now, and based on the prices that those investors seem to be paying (because they've beat me out on several places I've offered on), they are either overestimating what they can make, underestimating their costs, or willing to accept much lower returns than I'd want to accept. Perhaps it's a blend of those things... or perhaps they're just being misguided by bad agents or wholesalers here in St. Louis. At any rate, I think this article is a good reminder that just because St. Louis properties are cheaper than those in New York, LA, Seattle, etc. doesn't mean that everything is a good deal. There are so many nuances that go into to a solid investment, and you really need to know both the pros and the cons of any market you consider.