., and oftentimes those homes are in areas that are great tourist areas, but were very hard hit in economic downturns.

@Ali Boone Hi Ali....Go Go Dancer eh...way to go...If we talk live I'll share one of my life long dreams along those lines ;0) I really like the economics of Austin...the growth factor including jobs and the large companies there creating the draw!

Additionally, this semester I am interning the Indiana Economic Development Corporation and I am learning a lot about state grants that are available to rehabbers and investors for value projects or new development in lower income areas.

With us both having hectic careers, it has seemed to be the best way to enter the field.A friend, Oscar Perez, recommended the site and I am finally de-lurking.I am currently devouring all the podcasts and getting a great deal out of them.Our long term goal is to be economically supported by our real estate investments and see about having me transition to becoming a real estate professional.

You need to take the economic prospects into consideration before you buy.

Don't be economical with the details (thanks Rick H).

Does anyone know of any tools/websites that can help one to understand the macro economics of a real estate market?

I see the biggest roadblock as finding a house in your budget that will not be in a war zone or economically depressed area as noted by @Curt Davis (my words not his.

Sounds like you're on the paid staff.Sounds good, there is a great lack of understanding of reality, business and economic cycles, property management, effects on properties long term.A paper tiger of sorts, let me know how over leveraging works for you 20 years from now. :)

I understand comps, demand, local economics.