Is the need for affordable housing creating new markets?

[Cory J Thornton]

I have been thinking through housing, affordability, and the effect on what until the last few years have been dead markets. Any home with a decent commute to a decent market is not affordable. 

Over the last few years, and even now, I am seeing investors put their capital to work in areas that locals have previously ignored. 

It begs the question, in order to afford a rent, afford an investment property, or a primary home, will price start pushing people to forget the first three rules of Real Estate (location, location, location)? 

As a local example, a recent study showing the migration patterns of folks leaving Raleigh, the #6 city most likely to pick up those residents was Rocky Mount NC. Five years ago, this was not the case and even three years ago people were still highly suspect of that area (myself included). Now I'm starting to see people push much further out to 3-4 layers away from primary job markets completely sacrificing location for cost of ownership or cost of living. 

What do y'all think?

Is this something anyone else is noticing and if it is a trend, is there anything that will make it a short lived thing or is it going to continue longer term?