Great places to invest in real estate

NEW YORK -- Oct. 26, 2006 -- The magazine Business 2.0 has published its list of thetop 10 places to invest in real estate in the next 12 months.

Here are the magazine's picks for where to buy now, including three Florida cities:

Panama City, Fla. "Panama City is an economy waiting to break out," says Steven Cochrane, chief regional economist for Moody's Economy.com.

Vero Beach, Fla. A Manpower Employment Outlook Survey predicts growth in construction, manufacturing and retail jobs too.

Bridgeport, Conn. "Bridgeport has fixed the corruption," says Norman Feinstein, a principal with New Jersey-based Hampshire Funds. "The local government is pro-development, and buildings are being rehabbed."

Lakeland, Fla. Lakeland is just 30 minutes from Tampa, a juggernaut of 2.7 million people that's projected to add almost 210,000 more residents over the next five years.

McAllen, Texas. Eighty-five percent of the population is Latino and they are enjoying improved economic status, creating pent-up demand for nicer homes.

San Luis Obispo, Calif. The last semi-rural stretch of central California coastline, and it's also home to the state's rising star of wine production.

Wilmington, N.C. Highway construction has opening this area of the coast, bringing vacationers from other parts of North Carolina.

Manchester, N.H.Within commuting distance of Boston, without the cost.

Fort Collins, Colo. An outdoor paradise with lots of high-tech jobs, good schools and low crime.

AtlantaBruce Katz, head of the urban development program at the Brookings Institution, says Atlanta is "sprawl on steroids."

For more information, go to CNN Money at: http://money.cnn.com

Source: Business 2.0 (11/01/2006)

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