What happens when people can’t afford to live in a big real-estate markets like Los Angeles, San Francisco, or New York? According to HGTV's 'Flip or Flop' host Tarek El Moussa they turn to the “B-markets” which he believes are becoming more popular—especially for first-time homebuyers.
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“I have 93 single-family rental properties across the U.S. and different markets in North Carolina, South Carolina, Oklahoma and markets just like that,” El Moussa told FOX Business’ Stuart Varney on Tuesday adding that the reason that these are emerging markets is because “there is a housing shortage and the price-range of these properties for these entry-level buyers is affordable so people can actually qualify and afford to live in these areas.”
El Moussa also has his eye on other smaller rural-market cities, which are seeing a housing boom, including Boise, Idaho and Grand Rapids, Michigan. He believes they will eventually provide high-paying jobs and “that’s why people are moving there.”