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Old 02-28-2017, 08:31 AM
 
3 posts, read 2,758 times
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Hi. I'm new here. Long-time lurker, first-time poster. I have a question about the housing market in Wilmington as it relates to what seems to be a lack of job prospects. I have read a lot on this forum about the limited job prospects in Wilmington, and the ones that are available are not high paying. However, as I look at housing in the area, I see a lot of new construction going on with homes is the upper $200K-$300K range. So it seems like there is a lot of new construction going on without the jobs opportunities to put people in these homes. I'm curious to hear thoughts on this.

Thanks in advance for your time.
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Old 02-28-2017, 08:43 AM
 
Location: Wilmington, NC.
98 posts, read 77,533 times
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Work at home. Somewhere I read or my agent told me 40% of the people living in Wilmington work via the Internet. Thats what I do. If I can work from anywhere with internet , I'd choose the beach. Alot of other people I've met got moved here by their employer, so they already have an established income. As opposed to coming here looking for a job. My wife just got a job after 6 months of looking and the pay was on par with what she would have made in the northeast. But I have heard most jobs don't pay that way.
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Old 02-28-2017, 08:48 AM
 
3 posts, read 2,758 times
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Quote:
Originally Posted by hsw55 View Post
Work at home. Somewhere I read or my agent told me 40% of the people living in Wilmington work via the Internet. Thats what I do. If I can work from anywhere with internet , I'd choose the beach. Alot of other people I've met got moved here by their employer, so they already have an established income. As opposed to coming here looking for a job. My wife just got a job after 6 months of looking and the pay was on par with what she would have made in the northeast. But I have heard most jobs don't pay that way.
Thank you for the reply. That's actually my situation as well. I work from home and have the freedom to work from wherever, so as you said, why not the beach?

I was honestly just curious because there seems to be a disconnect with the job and house market, but that explains it. More and more people are telecommuting these days, so that make sense.

Thanks again for your reply. I really appreciate it.
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Old 02-28-2017, 08:50 AM
 
6,800 posts, read 4,429,472 times
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Wilmington does have, in spite of conventional wisdom to the contrary, some decent areas of job growth. Companies like Live Oak Bank, PPD, GE, Corning and institutional employers like UNC-W and New Hanover Regional Medical Center are adding employees. Plus you have a lot of retirees relocating from the northeast with a lot of equity to invest.
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Old 02-28-2017, 09:52 AM
 
3 posts, read 2,758 times
Reputation: 10
Quote:
Originally Posted by BC1960 View Post
Wilmington does have, in spite of conventional wisdom to the contrary, some decent areas of job growth. Companies like Live Oak Bank, PPD, GE, Corning and institutional employers like UNC-W and New Hanover Regional Medical Center are adding employees. Plus you have a lot of retirees relocating from the northeast with a lot of equity to invest.
Thank you for your reply. I haven't read much positive about the job market there outside of UNCW and the medical center. It's good to hear of other industry opportunities and that it's not as dire of a situation. That along with the retires helps make the new construction price point make much more sense. Thanks again.
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Old 02-28-2017, 12:22 PM
 
562 posts, read 931,220 times
Reputation: 379
Quote:
Originally Posted by MJR1221 View Post
Hi. I'm new here. Long-time lurker, first-time poster. I have a question about the housing market in Wilmington as it relates to what seems to be a lack of job prospects. I have read a lot on this forum about the limited job prospects in Wilmington, and the ones that are available are not high paying. However, as I look at housing in the area, I see a lot of new construction going on with homes is the upper $200K-$300K range. So it seems like there is a lot of new construction going on without the jobs opportunities to put people in these homes. I'm curious to hear thoughts on this.

Thanks in advance for your time.
It could be that a lot of the construction you are seeing relates to the 'retirement plantations' going up in the suburbs of Wilmington (Leland area and Wilmington's LandFall area??)
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Old 02-28-2017, 07:51 PM
 
Location: Wilmington, NC
412 posts, read 1,108,558 times
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I've lived in Wilmington since 1992. I've noticed that there has always been a disconnect between salaries and cost of living. It's always been a struggle to live here in my experience. There are some good companies that pay well but it's extremely competitive to get into those companies.

So many people have given me the advice to work from home, but I don't think people realize how competitive those jobs are too. It took me over a year to find a work from home job in my field that paid decently per hour (and I don't have health insurance). I'm constantly seeking out better opportunities even now.

I have seen plenty of people try to make it here but ultimately had to move away.
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Old 03-01-2017, 11:27 AM
 
2,399 posts, read 3,354,053 times
Reputation: 1405
The disconnect between the Housing and job markets is bigger than just the work at home crowd.

As well as the work at home crowd moving in, you also have retiree's moving in...and a transitional student population.

But all that is exacerbated by the geography of the area. Available land is scarce, and that means ALL land is more valuable. And then you have lots of waterfront or water access property, which is much more valuable than non waterfront/water access. So LAND COSTS are the reason for the disconnect and that housing prices will continue to go up...associated with the geography, obviously by the beach.
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