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Final Score: 66.4
Nipping at Raleigh’s heels, the historical coastal city saw its population jump by 11% between 2011 and 2016. The increase in housing units hasn’t kept up, at just over 6%, giving Charleston the fifth-highest Population & Housing score (66.9). The Business Growth score is the fourth highest on our list, at 71.7, due to a 14% increase in business establishments and 17% increase in paid employees (the fifth and 18th highest gains on our list, respectively). Charleston shines even more in Workforce & Earnings category, with a score of 60.6, the third highest on our list. The healthy 22% drop in unemployment and an 11% increase in the workforce (closely matching the overall population increase) are matched by the seventh-highest median wage increase of over 9%
The scary number there is 11 percent growth while housing is half that. The numbers I look at everyday are staggering. Our days on market is in line with pre-popped bubble figures of 2006, but prices are higher now and wages havent caught up with the market. That means that all of this inflation is being pushed by outside money, theres a lot of it too. Theres a lot of investors with cash in their pockets here as well, buying up the rehabs and pushing up the bottom line of the median prices.
All really good for growth opportunities, but straining our infrastructure, educational systems, laws, etc as we struggle to keep up.
Being mentioned in the same sentence as Raliegh is mind blowing to me.
I see a lot of peeps living at or above their means.
It won't end well.
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