Illinois has a pension problem long term as well.I think on a comparative basis a market that has lower taxes, high rent growth, more landlord friendly state an investor might view upside and risk differently for desiring a return today.Cold belt states many areas are dying off as net migration of retirees to warm belt states fueling more overall outer ring growth in urban to suburban core markets.

We're seeing some signifcant trends in net migration in some markets due to the fact that a lot of employees can now work from home and are moving from high cost markets to more affordable areas. 

Once the mass migration from the densely and cyclical areas comes to an end, prices will become realized. 

Excitement: In migration of jobs in DFWAre you preparing to buy, hold, sell or refinance in the next 5 years?

Hipsters and yuppis are already migrating to them, and the same surrounding blocks already have people doing rehabs. 

There are people moving to Colorado like crazy and Denver is already getting too expensive for many, so people are migrating South to the Springs, so I only see values of property increasing in that area.

But some data points to consider:The state of Alabama has had a net migration near 1% 2010-2019.

This was a great article and worth a read for anyone looking to understand the migration, both for families and for businesses.

Especially after COVID, people are migrating to these states where they have more space, the cost of living is cheaper, and they pay less in taxes.

New construction can't keep up with in-migration, demand will probably continue outstripping supply.