Raleigh-Durham home+rent appreciation continued growth or stagnating?

[Andrew Frank]

Hi all,

New to BP and been drinking from a firehose--podcasts, books, consistent conversation with local realtor helping to find a property (connected before finding BP). I have family in Raleigh, wife and I can't afford where we live in LA, CA so we're looking for an investment property elsewhere to get into some RE while we keep renting in CA, and Raleigh has that familial connection--who knows, maybe we'll move there but assuming we won't for this decision. I've read quite a bit about the Raleigh Durham area RE market blowing up because of all the corporations that continue plans to move/grow there; the eye catching announcement a while ago being Apple with their 10 year plan of adding a few hundred more employees each year. I also heard from a home consultant on a new project out there that they're planning to build about 5,000 new homes, though he didn't know how long that's going to take. Assuming that 5k new home is accurate and say it takes...10 year(?), my question is do you think an SF home located about 20 minutes from the RTP / RDU area appreciation will continue at a typical annualized 3% pace, and do you think rent will continue to increase OR do you think the influx of housing over time will keep home prices flat, and rent flat with it? Do you think the answer to either of these fronts changes if the home is a rehab vs brand new construction?

Thanks!