Location has been the cornerstone of real estate ever since hotel developer and sex kitten conceiver Conrad Hilton proclaimed the three keys to location, location, location over fifty years ago.

However, the idea of location and real estate has changed and continues to change with each passing year. So real estate professionals have to ask themselves: "What is the best location these days?"

Well, there is no easy answer but there are some general rules here, such as proximity to job centers and affordability. And there are short-term and long-term trends in real estate markets that are hot and those that are not. Because of climate the Sunbelt states are easily the hottest commodity these days (no pun intended).

This is where we see the rise of what are called "boomburbs", which are suburban communities with more than 100,000 residents. While this is larger than most US cities, the boomburbs are largely anonymous on the national scale.

In terms of urban growth trends, there about 50 percent of the U.S. population now resides in suburban areas; 30 percent resident in central-city areas; about 10 percent live in micropolitan areas, which are defined as areas with at least one urban cluster with a population of 10,000 to 50,000; and about 10 percent live in non-metropolitan areas.

So, whether you believe they are a nice place to live, or even if they are good for the nation as a whole, there is no denying that the boomburbs are a great location for real estate development.

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