REAL ESTATE : Orange County Ranks High as a Healthy Investment Area
Of 13 major Western U.S. markets, Orange County scored as one of the healthiest places to invest in real estate in a recent survey but was topped by Los Angeles, Sacramento and Oakland.
The survey, by AMB Institutional Realty Advisors in San Francisco, rated real estate markets on the growth, stability and diversity of their economies. Orange County ranked high in growth and moderate in stability and diversity.
Los Angeles and Sacramento, by contrast, ranked “high” in all three. Orange County’s reliance on manufacturing--even though much of it is in civilian-oriented, high-technology industries as opposed to ailing smokestack industries--hurt the county in the rankings.
Denver, hard hit by the recession in the energy industry, ranked next to last of the 13 markets with low growth and stability and moderate diversity.
Portland was dead last, scoring “low” in the three categories. The Portland market, according to the survey, is small, less diversified and heavily dependent on the lumber industry.
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