I want your opinion! (Virginia Beach, Norfolk: sales, real estate market, foreclosures)

[stacylee926]

As no one can really predict future growth for sure, I can certainly say that the area has the potential! We still have a lot of undeveloped land and Hampton Roads is a very important port area. The growth opportunities are limited only by the investments that businesses want to make.

The military will continue to be a big presence for a long time due to the sheer number of bases and branches served here.

We are certainly not in danger of rolling up the welcome mat and disolving - like some towns. We do have a wide variety of businesses, so failure of one business sector will hurt, but would not close us down. So I guess we are a decent place to grow roots and ride out the future if you really think about it.

We have 4 seasons and the winters are mild - which has become a favorable factor to many when they chose to move. Housing is not outrageously high like some areas, but we do not have an abundance of bargains either like Florida.

[Randomdude]

Originally Posted by stacylee926

We are certainly not in danger of rolling up the welcome mat and disolving - like some towns. We do have a wide variety of businesses, so failure of one business sector will hurt, but would not close us down. So I guess we are a decent place to grow roots and ride out the future if you really think about it.

Actually, if the Norfolk Naval Base closed down, Hampton Roads would become a shell of itself. If the Northrop Gruman shipyard closed down, it would have a somewhat similiar effect. Both would suck out large amounts of our federal government tit money, which is fueling huge chunks of our McJob private sector.

Just look at the damage just one carrier battle group leaving Hampton Roads does to the local economy.....now imagine ALL of the ships gone, all of the land based support, the air wings, and all of the private contractors sucking off the tit money. Not only will that be about 25-35% of our jobs, but will send a tremendous ripple through the complete area.

[Erma]

Originally Posted by Randomdude

Actually, if the Norfolk Naval Base closed down, Hampton Roads would become a shell of itself. If the Northrop Gruman shipyard closed down, it would have a somewhat similiar effect. Both would suck out large amounts of our federal government tit money, which is fueling huge chunks of our McJob private sector.

Just look at the damage just one carrier battle group leaving Hampton Roads does to the local economy.....now imagine ALL of the ships gone, all of the land based support, the air wings, and all of the private contractors sucking off the tit money. Not only will that be about 25-35% of our jobs, but will send a tremendous ripple through the complete area.

It won't happen...whether you want to believe who is sucking what hind tit or not. Norfolk Naval Shipyard is a government yard, NGNN is a private yard as is BAE and Metro as well as Earl Ind. The yards as in NGNN have bought the other yards not located in this area. It's a win, win for them, just like General Dynamics buying up the combat systems contractors and Lockhead Martin and warfare. Until the earth in general can live in peace, which is totally out of the question, those entities providing services will never go away.
As in Carrier groups, they consist of several ships from various locations. A carrier in itself, is just a very small entity that is being made a big deal of. The one carrier going to Mayport won't happen for quite some time, maybe years, as the funding will have to be supported to dreadge enough for the depth allowance as well as the nuclear portion to which they never had.

[Randomdude]

Originally Posted by Erma

It won't happen...whether you want to believe who is sucking what hind tit or not. Norfolk Naval Shipyard is a government yard, NGNN is a private yard as is BAE and Metro as well as Earl Ind. The yards as in NGNN have bought the other yards not located in this area. It's a win, win for them, just like General Dynamics buying up the combat systems contractors and Lockhead Martin and warfare. Until the earth in general can live in peace, which is totally out of the question, those entities providing services will never go away.
As in Carrier groups, they consist of several ships from various locations. A carrier in itself, is just a very small entity that is being made a big deal of. The one carrier going to Mayport won't happen for quite some time, maybe years, as the funding will have to be supported to dreadge enough for the depth allowance as well as the nuclear portion to which they never had.

Saying it wont happen doesnt change the carnage if it did happen though. Stacylee states that if one business sector closes down, another will magically pick up the slack. That is completely false. If the area lost its federal government tit money, it would stop immediatley in its tracts, keel over, and die. It would take decades to repair as the area finally is forced to attract real corporate presence.

[rtandc]

Originally Posted by Randomdude

Why cant I make predictions? Why exactly am I not qualified to make a prediction?

a prediction is one thing but making a promise is something totally different...

[rtandc]

Originally Posted by Randomdude

Actually, if the Norfolk Naval Base closed down, Hampton Roads would become a shell of itself. If the Northrop Gruman shipyard closed down, it would have a somewhat similiar effect. Both would suck out large amounts of our federal government tit money, which is fueling huge chunks of our McJob private sector.

Just look at the damage just one carrier battle group leaving Hampton Roads does to the local economy.....now imagine ALL of the ships gone, all of the land based support, the air wings, and all of the private contractors sucking off the tit money. Not only will that be about 25-35% of our jobs, but will send a tremendous ripple through the complete area.

Yeah and the world is going to end on 12-21-2012 also LOL....You must get a kick out of talking about the worst case situations that have about a zero chance of happening

Norfolk Navel base is the largest in the world and it also sits on a very deep port which is ideal ....its not going anywhere

Northrop Grumman is the leader in security today and they have contracts in place for many many years....heck they are now just starting the Gerald R Ford class of aircraft carriers which are a brand new class....It is been said many times that the navy want to increase their fleet from around 285 today to well over 300 ships in the near future...

Hampton Roads is going to lose one carrier (really two) to Florida, You can bet that is pretty much a done deal and yes it will make a dent in the local economy but nothing that wont easily be overcome....its all politics....you know the old saying "you scratch my back then I willl scratch yours" type of deals.......Hampton Roads loses something but gets something back in return....Heck BAE systems was just awarded a five year, half a billion dollar contract today so the defense money will still be flowing into this area like always

[nycricanpapi]

Originally Posted by Randomdude

Actually, if the Norfolk Naval Base closed down, Hampton Roads would become a shell of itself. If the Northrop Gruman shipyard closed down, it would have a somewhat similiar effect. Both would suck out large amounts of our federal government tit money, which is fueling huge chunks of our McJob private sector.

Just look at the damage just one carrier battle group leaving Hampton Roads does to the local economy.....now imagine ALL of the ships gone, all of the land based support, the air wings, and all of the private contractors sucking off the tit money. Not only will that be about 25-35% of our jobs, but will send a tremendous ripple through the complete area.

This is so true. Hampton Roads is doing soo good just because of the military. If there were no military. Hampton Roads will be dead.

[Randomdude]

Originally Posted by rtandc

Yeah and the world is going to end on 12-21-2012 also LOL....You must get a kick out of talking about the worst case situations that have about a zero chance of happening

Norfolk Navel base is the largest in the world and it also sits on a very deep port which is ideal ....its not going anywhere.........

Did I ever once say the Norfolk Naval Base was going anywhere? Did I even once speculate such? No, I was simply rebutting another posters claim that the area could recover from a loss of X industry, when actually, the area is so absolutely dependent on government tit money that it would be devistated if the industry in question was the Norfolk Naval Base or Northrop Gruman.

[stacylee926]

Ok, let me clarify here. I was using the closure of the Franklin paper mill as an example. That mill IS Franklin and their economy. In HR the military is a large part of the economy, but it is not the whole thing. However, as Erma said... until we live in a completely peaceful world - there will always be military in HR due to our physical location on the East coast. The military is not going to pack up and move to Charleston (or somewhere else) in our lifetime.

So keeping the focus on the OP's original question - I still hold my opinion that this area has a lot of growth potential. This is partly due to the military's permanent presence here.

[Randomdude]

Originally Posted by stacylee926

So keeping the focus on the OP's original question - I still hold my opinion that this area has a lot of growth potential. This is partly due to the military's permanent presence here.

Actually, the government tit money is largely hindering the area from ever becoming what it has the potential to be.