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This year's Charlotte Home-a-Rama is to be held in a luxury development at Lake Norman. Charlotte HomeArama It was supposed to be right sized luxury living for the new economy. It's supposed to be at the end of the month.
However the new economy has decided otherwise. The builder, Simonini Builders, has thrown in the towell and called it quits and is going to close shop there. This will leave these set of homes orphaned like so many other misguided developments in the area. Simonini Builders shutting down because of 'catastrophic changes' (http://www.charlotteobserver.com/2010/09/03/1665617/simonini-builders-shutting-down.html - broken link)This builder blames of catastrophic changes as the result of their plans going down the drain.
It will be interesting to see if this year's demonstration of home excess will go on given that it is now a metaphor of the broken and unrealistic housing market. They act as if this is a big surprise, but it didn't take rocket science to see that this development was going no where, despite the hype thrown at it. When there are no real jobs, and no prospect there will ever be any again, (not until severe restructuring of the economy), there won't be home sales. Let this be a warning if you are going to buy a home from a builder. If this isn't enough of a sign that you shouldn't do it, then you deserve the house you get.
But didn't that world class economist from Wells Fargo just assure the Lake Norman homebuilders association about how Charlotte was going to be riding the wave back to prosperity any minute now? He couldn't be wrong, I mean, he's an economist!
But didn't that world class economist from Wells Fargo just assure the Lake Norman homebuilders association about how Charlotte was going to be riding the wave back to prosperity any minute now? He couldn't be wrong, I mean, he's an economist!
Right! And the billions spent on various "stimuli" are going to create jobs and save the economy!
In science you need predictive abilities...in economics you look at a past occurrence, concoct a theory, then keep messaging the data until it fits the theory...
Economics isn't a science, it's about story telling....
But didn't that world class economist from Wells Fargo just assure the Lake Norman homebuilders association about how Charlotte was going to be riding the wave back to prosperity any minute now? He couldn't be wrong, I mean, he's an economist!
Yes, I believe he did. Of course he gets to spout out worthless drivel with impunity or accountability. His bank job continues to be supported by the US taxpayer who ends up owing these debacles. Everyone else loses. He probably doesn't like to talk about that part.
Right! And the billions spent on various "stimuli" are going to create jobs and save the economy!
Not to try to drag this thread into another political thread, but over the past few years, I learned that you can pump billions into the economy to get it started, but if you give companies money, and they stick it in their pockets and then say, "oh gee, the economys still bad, we JUST can't hire or lend people money right now, but at least we're in the black again!" then clearly something needs to be changed.
"Ham Aroma" opened yesterday. Did anybody see it yet? It looks like Harris Teeter isn't doing the discount tickets like they've always done in the past. Could it possibly be worth $15 bucks per ticket to see?
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