The Anchorage and Alaska economies  are in bit of a bubble. Not highly over inflated but the inability of the legislature to make difficult choices has delayed the inevitable deflation. It probably won't just pop.  Watch the valley which has become infested with speculative, expensive rental properties. There are many rentals available at $1,300- $1,500 a month. Many are owned by inexperienced real estate investors and are very highly leveraged. They're ugly too.  There is nothing happening in the valley to support all of these rentals and the dozens more that are under construction. Musical chairs? Perhaps......