Manarin Investment Counsel, Ltd.

BusinessWeek - Local residents joke about the real estate market in Omaha.  "We didn't get invited to the party," they say, "and we don't have a hangover."  The proof:  Prices slipped less than 1% in Nebraska's biggest city last year, compared with an 18% drop for the U.S.

Now Omaha looks poised to tromp the U.S. on the upside.  While responsible lending practices and a dearth of speculation have supported the market in recent years, jobs will make all the difference in the future.  Unemployment in Omaha hovers around 4%, less than half the national average.  Last year Omaha added 2,700 new jobs as the U.S. lost 3 million.  The continued strong prospects for job growth in Omaha means prices should rise faster than the U.S. average.

Meanwhile, high-tech companies are flocking to the Omaha area, which boasts an abundance of land and power, an extensive fiber-optic network, and a favorable tax regime.