Yelp could hold the key to predicting the next hot neighborhoods ripe for investment.
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While tools such as the U.S. census exist and can provide data regarding home prices, rent, wages and demographic changes, the information is often old by the time it is released.
Yelp maintains up-to-date information about local businesses through reviews, and can track increases in prices or a spike in companies like Starbucks, which signals coming gentrification. An increase in grocery stores, laundromats and bars also indicates a rise of college-educated residents in an area, the Wall Street Journal reports.
This information could be a valuable tool for those looking for investment opportunities in untapped markets. Investing in assets in burgeoning markets prior to gentrification and price jumps could lead to favorable returns on investment.
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