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I have too many friends who are local accountants, and one of their points on the local economy is (and I think it makes a lot of sense) is that there are quite a few people here "living to some extent on Real Estate equity"; by which they mean: 1) they had significant "equity money" from the sale of property where they moved from, and most of those places (NY, Boston, PA, CA, etc.) are FAR more expensive than here; and if they owned that property for awhile, like 20 years, they have BIG $$ to pull out; or 2) they have significant "equity money" from their property here (as we have said many times it is the Triangle area's Real Estate prices and appreciation that keep many people here regardless of their employment situation).
Well, which one is it? You can't say that RE prices are cheap and there is good appreciation at the same time.
IMHO, there is a glut of overpriced inventory on the market. Homes are priced above 2006-2007 prices. Unemployment is on the rise. I don't see how this works out for these sellers.
Well, which one is it? You can't say that RE prices are cheap and there is good appreciation at the same time.
IMHO, there is a glut of overpriced inventory on the market. Homes are priced above 2006-2007 prices. Unemployment is on the rise. I don't see how this works out for these sellers.
Well, which one is it? You can't say that RE prices are cheap and there is good appreciation at the same time...
Um, I was refering to our prices relative to other area's prices. Here you can buy a 3500 Sq Ft house in a passable neighborhood in an area with low crime, great schools, educated population, great medical, etc. for like $300K. Where else can you do that??
Um, I was refering to our prices relative to other area's prices. Here you can buy a 3500 Sq Ft house in a passable neighborhood in an area with low crime, great schools, educated population, great medical, etc. for like $300K. Where else can you do that??
OK, but I would have thought we would have noticed the Triangle market being in the bottom 10% of the country in terms of "housing deals"...
My point was $300,000 will buy a very nice house in a good neighborhood in most areas of the country.
Most people need to qualify for a mortgage though.
Right, and my point was not that you can't buy that much house for that much money anywhere else; it was as I said in the post that you can't buy that much house for that much money "in a passable neighborhood in an area with low crime, great schools, educated population, great medical, etc.". You and I very much agree on the state of "Triangle area industry" currently, but regardless of that, relative to the many good things we do have here in the Triangle, our Real Estate is cheap when you look at other places that have some or all of what we have.
Hogwash! RIM came to Raleigh last October as the buzzards were circling from the last Sony Ericsson layoff. At that time, they told us "We're seriously considering opening a new office in Raleigh." Yeah right. Now Sony Ericsson lays off the rest of their workforce and again the buzzards come in with the same "Raleigh office" story. Notice that the writer of this article did not get info from any local chamber of commerce. They got it from standing outside the job fair.
Hogwash? Not really. Looks like they are opening an RTP site. Good news for the Triangle Park.
Ha Ha. I knew that someone was going to make me eat my words on that! Good going jeffm!
I still want to caution you that there is still no "official" word from RIM. The N&O is basing this story on an an email that was sent by RIM to a perspective employee who was interviewed at the local job fair, who then forwarded the email to the N&O.
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Good going jeffm!
