If you want to invest in property, rentals, or condo's forget Alaska, Please look at the value to be had that is currently found in Las Vegas. The system of appraisers, lenders, and real estate agents suits realistic prices and prudent and reasonable renters/investors.
it's very overpriced to rent or buy in North Pole or Fairbanks. For some reason housing prices haven't come down in Alaska, 95% of the homes you see for sale are ridiculously overpriced; it is almost criminal especially when you look at the construction quality of home your getting when compared anywhere else in the US. Rent is high because the owner paid a super-overinflated price for the home and hopes some renter will pay his/her mortgage for em. Strongly suspect appraisers, lenders, as well as real estate agents are very very very familiar with one another RICCO style.