U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > North Carolina > Charlotte
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 12-22-2009, 07:10 AM
 
368 posts, read 811,454 times
Reputation: 310

Advertisements

Quote:
Originally Posted by lumbollo View Post
Now you know some of the reasons behind this and it sounds business as usual to me. Dilworth isn't considered to be part of the "gang" when it comes to old school Charlotte money and society. In fact, they would hold the neighborhoods out on Providence, and Carmel in higher regard than Dilworth. Most of that has to do with what happened here in the late 50s to late 70s.
What was that?
Reply With Quote Quick reply to this message

 
Old 12-22-2009, 04:39 PM
 
Location: S. Charlotte
1,511 posts, read 2,874,650 times
Reputation: 675
Quote:
Originally Posted by applefruit View Post
Like many of the posters, I'd say all of the neighborhoods discussed (Eastover, MP, Ballantyne, Piper Glen, etc.) are *exclusive* in general. The average person cannot afford to live in ANY of those neighborhoods.
This is not necessarily true. Ballantyne, for one, has pretty wide borders and is not Ballantyne Country Club only. I agree "average" people will probably not live in that subdivision. Although I'd wonder what you define as average. Is there a specific house price range? Salary range?
Reply With Quote Quick reply to this message
 
Old 12-22-2009, 09:56 PM
 
28 posts, read 58,556 times
Reputation: 41
Quote:
Originally Posted by jenn02674 View Post
There are some huge mansions in Waxhaw/Marvin, not technically Charlotte but certainly the Charlotte area. I'm sure some of you know where I am talking about, between Waxhaw-Marvin Road and Providence (forget the name of that road). Some of the biggest houses in the area on large acreage.
I think you're thinking of Longview. It's on Tom Short Rd. between Rea Rd. and Providence CC. Definitely the nicest houses in the Charlotte "area", but it's technically Waxhaw and Union Co.
Reply With Quote Quick reply to this message
 
Old 12-24-2009, 04:22 PM
 
24 posts, read 52,947 times
Reputation: 22
Quote:
Originally Posted by chicagomichauds View Post
Although I'd wonder what you define as average. Is there a specific house price range? Salary range?
The average salary in Charlotte, NC is $52,530 (2008) and the average house price in Charlotte, NC is $188,400 (2008).

Source: http://www.city-data.com/city/Charlo...-Carolina.html

So, based on those figures, nobody living in Ballantyne Country Club would quality as an "average" person. The lowest priced house in BCC is still probably in the $500k range, and to afford a house like that, you'd probably need a $100k salary, wouldn't you say?
Reply With Quote Quick reply to this message
 
Old 12-24-2009, 04:35 PM
 
Location: S. Charlotte
1,511 posts, read 2,874,650 times
Reputation: 675
Quote:
Originally Posted by applefruit View Post
The average salary in Charlotte, NC is $52,530 (2008) and the average house price in Charlotte, NC is $188,400 (2008).

Source: http://www.city-data.com/city/Charlo...-Carolina.html

So, based on those figures, nobody living in Ballantyne Country Club would quality as an "average" person. The lowest priced house in BCC is still probably in the $500k range, and to afford a house like that, you'd probably need a $100k salary, wouldn't you say?
I totally agree that Ballantyne Country Club is not average. I am saying that Ballantyne is NOT Ballantyne Country Club. It actually extends further than that subdivision. So to make a blanket statement that an average person cannot live in Ballantyne is completely untrue.
Reply With Quote Quick reply to this message
 
Old 12-24-2009, 05:30 PM
 
4,010 posts, read 8,923,688 times
Reputation: 1585
The $500K+ suburban tract built house is a product of irrational real estate appreciation and won't last. They are coming down as fast, if not faster, than they went up. Large numbers of houses costing 10X the average local household income just can't exist in reality. The number should be around 2.5X in a sane market. It's magnified by the fact that real household income is actually dropping and has been for over a decade. There are a few unique neighborhoods (mostly a few historic ones) and lake front that can maintain these prices somewhat because the supply is limited, but a house built on a former cowfield, is nothing but a house on a former cowfield no matter what the name and will be a has been when the next hot place is thrown up.

Some artwork that explains it perfectly here. http://www.thenothingstore.com/boom.php
Reply With Quote Quick reply to this message
 
Old 12-25-2009, 12:28 PM
 
24 posts, read 52,947 times
Reputation: 22
Quote:
Originally Posted by chicagomichauds View Post
I totally agree that Ballantyne Country Club is not average. I am saying that Ballantyne is NOT Ballantyne Country Club. It actually extends further than that subdivision. So to make a blanket statement that an average person cannot live in Ballantyne is completely untrue.
You're right. When I said "Ballantyne", I was referring to the neighborhood of Ballantyne Country Club--not the Ballantyne area. The area in general certainly has all types of housing for all types of price ranges.
Reply With Quote Quick reply to this message
 
Old 12-26-2009, 09:59 AM
 
Location: Ayrsley
4,714 posts, read 8,457,079 times
Reputation: 3814
Quote:
Originally Posted by applefruit View Post
The average salary in Charlotte, NC is $52,530 (2008) and the average house price in Charlotte, NC is $188,400 (2008).

Source: http://www.city-data.com/city/Charlo...-Carolina.html
Those salary and home price figures are medians, not averages. And the first one is household income, not salary; so this is all income earned in a household, regardless of the total number of wage earners.

This means that 50% of households in the area have a household income < $52,530, and 50% have an income greater than that amount. Same for the home price numbers.

The average home price (in 2008) was actually much higher than $188,400. Per that same website the home price averages are listed as: "All housing units: $291,012; Detached houses: $301,689; Townhouses or other attached units: $216,865; In 2-unit structures: $518,860; In 3-to-4-unit structures: $168,171; In 5-or-more-unit structures: $274,354; Mobile homes: $36,126".

Obviously the overall figures on home values (both mean and median), are skewed a bit low if mobile homes are being included in those calculations.

Quote:
Originally Posted by applefruit View Post
The lowest priced house in BCC is still probably in the $500k range, and to afford a house like that, you'd probably need a $100k salary, wouldn't you say?
If someone is taking out a mortgage loan for $400k+ (assuming they can put down $100k as a 20% downpayment) and their household income is only $100k, they are buying way over their heads. And that is just from a mortgage payment perspective, regardless of any other variables.
Reply With Quote Quick reply to this message
 
Old 12-26-2009, 11:59 AM
 
57 posts, read 126,317 times
Reputation: 64
If you want to be near "non-native"s, move to South Charlotte. If you want to be near the natives, move to some of the other areas mentioned here. Word of advice; if you're not a native, don't live near them. You won't be happy.
Reply With Quote Quick reply to this message
 
Old 12-26-2009, 03:59 PM
LLN
 
Location: Upstairs closet
4,976 posts, read 8,713,298 times
Reputation: 6443
Coming from extremely old and abundant money in Salisbury, though regrettably, one generation removed (dangit) this thread has been amusing.

Salisbury still has a strong 19th century perspective and to a great deal views Charlotte, collectively, as tacky, new money. My family was the genteel, poor, had all the connections, friendships, etc, but without the cash.

Money has little to do with exclusivity amongst the elite. It is simply a given. Large houses do not matter that much either, since they too, are a given. Many wealthy folk have very “comfortable furnishings” not necessarily elegant or extravagant. They need to prove nothing.

Family connections, social interaction, charitable and community work, done outside the business of business are important. School and club ties (pun intended) are also very important.

Those looking for exclusivity need look well past the size of the house or the gate at the community. In fact, real, old money scoff at a gate.

So, find these folks, and you have found the exclusive area(s).
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:



Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > North Carolina > Charlotte
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top