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Well . . . my crystal ball says people have been overly optimistic about Charlotte's future for a while and we will pay a price for that. Not everyone bought into all the glory of Banking here (I surely didn't) but so many folks staked their futures on businesses that were tied to the banking industry on some level. A lot of folks moved here who will be forced to leave (no jobs). Those unemployment checks won't last forever.
However, I agree w/ Mullman that we were here a long time b/f the Banking Boom. The thing that worries me is all the folks who came here on the wave of prosperity and who now are walking away from their homes. I don't think any of us has a true picture of what is going on w/ empty, deserted homes here. That worries me a lot . . . we don't need more deteriorating suburban ghettos . . . and empty houses in rows are a draw to crime (thugs and crackheads).
Charlotte has one really big draw at this point. We have a pool of very talented, educated workers. Corporations would do well to consider this and either open a branch here or relocate to Charlotte. That is my big hope. My concern is that folks won't be able to hold out for those new jobs - and will leave to find employment in other areas.
Charlotte's future is confusing. I fear the new Mayor and the council will focus too much on building the downtown (uptown, lol) area and pour money into projects that have little, if any, effect on overall growth. But that is just me. I personally think Foxx is a good man but being a good person is not enough if the agenda of the city manager and council members is not visionary. From what I have seen, these are all "tree" people, not "forest" people and that is the worst possible situation - folks who focus on the trees and not the overall forest.
With the loss of Wachovia and pending loss of Bank of America headquarters, Charlotte looks to be getting hit hard by this recession. Where are the jobs.
Charlotte housing market is taking a dive, with over 1,000 foreclosures per month. Housing prices are down atleast 20% the past 24 months. The majority of the builders in Charlotte either went bankrupt of pulled out of this market entirely.
The comercial real estate market bad, no one is willing to lend. We are heading into a major devaluation of this market. The house of cards is falling, who will be here to pick up the peices.
Democrat mayor, along with 9 out of the 11 city council votes being democrat, I just don't see Charlotte pulling out of this ant time soon.
Your comments and views are welcome.
Did you just wake up out of a coma and notice this? I think that you should leave town. Oh, didn't you hear, Obama is claiming that things are getting better. The only thing getting better is that people on unemployment are getting their extensions. Charlotte is in a jam, but better off than our rival cities in growth, ie. Seattle, Phoenix, Sacramento, Las Vegas, Miami, and others. Charlotte will bounce back like it did in the 70s after the Carter years. Since most Americans are ignorant on economic matters, they don't understand economic trends are a fact of life and recessions are unavoidable. They are nobody's fault. Nevertheless, when we pull out of the recession, your president will take credit for the great job he has done by pulling us out of the recession with his glorious stimulous package. LOL! But, you should go to some dreamland that is void of today's economic woes. I would start around Detroit.
With the loss of Wachovia and pending loss of Bank of America headquarters, Charlotte looks to be getting hit hard by this recession. Where are the jobs.
While the banking/finance industry has collapsed, it isn't disappearing. There will be a need for banking for a long time. (A place to store our money, online banking, credit cards, etc will continue to be used).
I have friends/family who have recently been hired in Charlotte (within the past month) so jobs aren't completely non existent. It just depends on what field you are in. The past decade an influx of people went into construction and real estate, so there is an oversupply of people in these professions, while the demand is very low. It'll take time for the economy to balance out profession wise. These people will have to retool/retrain in other fields.
While bank of america may move its headquarters, it may not make a difference. A huge percentage of associates work from home. So associates are working with people all over the country/world.
Quote:
The comercial real estate market bad, no one is willing to lend. We are heading into a major devaluation of this market. The house of cards is falling, who will be here to pick up the peices.
Heading...? I think we've already headed into a major devaluation. It's possible the worst could be over...We're all still here and ok after the collapse last year and the steep drop in everything from real estate to the stock market.
So based on the post's, Charlotte is in midst of a correction, but we are lucky that Charlotte is not located in Flordia or California, where greed and easy money over built.
Another way to look at it is things are bad all over the country and if you think Charlotte is imploding, feel free to relocate anywhere you wish.
Well, at least the Mayor of Charlotte is a full-time job now. I thought it was wierd Mayor Pat worked for Duke Energy while serving as Mayor.
If your question is answered simply by job availability then Texas would be the answer. Specifically the swath stretching from Houston through Dallas and up into Oklahoma City and Tulsa. The reason? Energy. The nation's energy comes from this area and there is always a market for it. This is assuming of course you have no issues with living in this area. North Dakota is another place. This is because they have a lot of jobs from some reason, but nobody wants to live in that moonscape of a place.
Did you just wake up out of a coma and notice this? I think that you should leave town. Oh, didn't you hear, Obama is claiming that things are getting better. The only thing getting better is that people on unemployment are getting their extensions. Charlotte is in a jam, but better off than our rival cities in growth, ie. Seattle, Phoenix, Sacramento, Las Vegas, Miami, and others. Charlotte will bounce back like it did in the 70s after the Carter years. Since most Americans are ignorant on economic matters, they don't understand economic trends are a fact of life and recessions are unavoidable. They are nobody's fault. Nevertheless, when we pull out of the recession, your president will take credit for the great job he has done by pulling us out of the recession with his glorious stimulous package. LOL! But, you should go to some dreamland that is void of today's economic woes. I would start around Detroit.
Vin, I don't agree with your assessment about the recession being nobody's fault, at least this recession and its extent.
I do agree that CLT will recover, as will Detroit.
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Oh, didn't you hear, Obama is claiming that things are getting better. The only thing getting better is that people on unemployment are getting their extensions. Charlotte is in a jam, but better off than our rival cities in growth, ie. Seattle, Phoenix, Sacramento, Las Vegas, Miami, and others. Charlotte will bounce back like it did in the 70s after the Carter years. Since most Americans are ignorant on economic matters, they don't understand economic trends are a fact of life and recessions are unavoidable. They are nobody's fault. Nevertheless, when we pull out of the recession, your president will take credit for the great job he has done by pulling us out of the recession with his glorious stimulous package. LOL! But, you should go to some dreamland that is void of today's economic woes. I would start around Detroit.
