Charlotte is suffering but not as much as other cities. The banking industry is a major source of income for a large portion of Charlotte. It does seep into other companies and the surrounding businesses, which encompasses certain communities. We are feeling a trickle down affect, but its not as bad as it could be. If we continue to suffer, it will trickle down more and more. Those who business work closely with the banks definitely feel the crunch. It would be at least 2010, before the banks begin to make the some of the loans of the heydays. Everything at this point is being handled delicately with care. Until banks start lending (responsibly) we will see decline in housing, restaurants, hotel, hospitality industry and etc.
Many people I know of has left NC and NY for other states with jobs, especially the lawyers and middle and upper level bankers. I know of support staff who are looking into DC and Atlanta for jobs. So, yes its' scary out here. I drove around Charlotte for 3 hours on Sunday and saw many homes for sale. It is eerie...