One drawback is overpopulation of units.

@Marcus Auerbachinteresting post.i really don't know.as @Cody Roberts pointed out, another thing that is happening at the same time is an incredible reversal of population growth - from the doom and gloom, overpopulation predictions of the 60s and 70s, to the likely peak of human population by 2060 or 2080, followed by probably an irreversible decline. 

There simply isn't enough housing to keep up with the amount of human overpopulation.  

Maybe remodel it keep it a prison & lease back to state for detention overpopulation.

And we're wary of those who want to overbuild and overpopulate; particularly when those coming in do little to contribute to our tight knit communities. 

Due to overpopulation in Miami, developers are moving further South and there is rarely instances of developers not completing projects here in Miami. 

Greater Houston is a great place for real estate investments given the deflated prices compared to other US markets & the impressive population growth.Here are a few tips in this market:- lack of zoning makes knowledge of subdivisions(neighborhoods) VERY important; so know your numbers by subdivisions, i.e DOM, avg sales & rental price per sqft etc- market in Houston below $150k is overpopulated right now- too many people & too many transactions- so don't be fooled by recent sales data since they may be inflated; true value of SF investment properties should be driven by cap rates; SF rental market in Houston in north of 10% cap rateLet us know if we can assist on any way- we provide data to help investors find their own off-market deals.

Why sit in traffic for 2+ hours a day (or why deal with overpopulation, smog, etc.)An employee that works in San Jose can buy a small house for $2M or they could head to the midwest or south and buy a gigantic house for $500K.

Yes this place is over populated but that means someone is moving to OC to build a custom home.  

I think the better ideas from above are hunting excursions because deer and game fowl over populate the areas and there are plenty of folks from all over the country who come to Georgia to hunt.Also, if I understood correctly the peanut industry in the area collapsed in 2009.