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Old 04-02-2022, 10:42 AM
 
4,537 posts, read 6,339,218 times
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The population boom is really underway in Iredell, Gaston, and Chatham, in addition to the longterm boom counties. What is interesting that formally sedate counties like Franklin, Granville, Iredell, Harnett, Alamance, Davie, Moore, Lee, Hoke, and Lincoln Counties are now booming too.

Last edited by Tarheelhombre; 04-02-2022 at 11:45 AM..
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Old 04-02-2022, 11:07 AM
 
Location: Research Triangle Area, NC
6,312 posts, read 5,402,249 times
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Originally Posted by Tarheelhombre View Post
Nationwide, there is a predictable pattern to recent Census statistics: areas with the highest housing prices are losing population or have low growth rates. Wake County still has swaths of relative housing affordability, but that cannot last much longer.
I am curious as to how close we are to that tipping point. It really is jarring to see the current prices houses are selling for all over Wake and the whole Triangle area. While it LOOKS on a map like there is still plenty of room to build in Wake; looks can be deceiving. North of 540 will never see Western Wake style developments due to Falls Lake watershed; same story for south of Tryon all the way to Fuquay due to Swift Creek.

New Hill will probably fill in to West Cary/Apex density by the end of the decade (will most likely end up mostly annexed to Apex city-limits by then too) and currently unincorporated areas of Fuquay/Willow Springs/Garner outside the watershed restriction areas will probably follow suit closely behind. But the spillover to Johnston is already well underway and Chatham and Franklin seem primed to be next very soon. Chatham is a particularly unique case as it has already had "spillover" from Chapel Hill and Durham and has generally identified more with those areas than with Western Wake; but Chatham Park may be a gamechanger in the whole identity of eastern Chatham Co.
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Old 04-02-2022, 12:04 PM
 
Location: Apex, NC
3,286 posts, read 8,521,380 times
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Quote:
Originally Posted by TarHeelNick View Post
I am curious as to how close we are to that tipping point. It really is jarring to see the current prices houses are selling for all over Wake and the whole Triangle area. While it LOOKS on a map like there is still plenty of room to build in Wake; looks can be deceiving. North of 540 will never see Western Wake style developments due to Falls Lake watershed; same story for south of Tryon all the way to Fuquay due to Swift Creek.

New Hill will probably fill in to West Cary/Apex density by the end of the decade (will most likely end up mostly annexed to Apex city-limits by then too) and currently unincorporated areas of Fuquay/Willow Springs/Garner outside the watershed restriction areas will probably follow suit closely behind. But the spillover to Johnston is already well underway and Chatham and Franklin seem primed to be next very soon. Chatham is a particularly unique case as it has already had "spillover" from Chapel Hill and Durham and has generally identified more with those areas than with Western Wake; but Chatham Park may be a gamechanger in the whole identity of eastern Chatham Co.
Great points! The Town of Apex just approved an industrial site just over the Chatham county line. Apex town limits are now officially in both Wake and Chatham counties. I hear that Apex is not looking to approve any residential annexation requests in Chatham at this time, but it's only a matter of time. Apex residential developments already directly border the county line in 2-3 locations. The amount of construction that has happened, is happening and will continue to happen in west Apex and New Hill will push the Town of Apex's population to 100,000k by 2027 (currently estimated by the Town at 72,600). A recession could slow it for a year or two, but the wheels are in motion to completely change the landscape between Apex, Pittsboro and now down to the Moncure and Sanford areas.
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Old 04-03-2022, 03:51 AM
 
Location: South Beach and DT Raleigh
13,966 posts, read 24,011,170 times
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Quote:
Originally Posted by TarHeelNick View Post
I am curious as to how close we are to that tipping point. It really is jarring to see the current prices houses are selling for all over Wake and the whole Triangle area. While it LOOKS on a map like there is still plenty of room to build in Wake; looks can be deceiving. North of 540 will never see Western Wake style developments due to Falls Lake watershed; same story for south of Tryon all the way to Fuquay due to Swift Creek.

New Hill will probably fill in to West Cary/Apex density by the end of the decade (will most likely end up mostly annexed to Apex city-limits by then too) and currently unincorporated areas of Fuquay/Willow Springs/Garner outside the watershed restriction areas will probably follow suit closely behind. But the spillover to Johnston is already well underway and Chatham and Franklin seem primed to be next very soon. Chatham is a particularly unique case as it has already had "spillover" from Chapel Hill and Durham and has generally identified more with those areas than with Western Wake; but Chatham Park may be a gamechanger in the whole identity of eastern Chatham Co.
There is still immense development opportunity in eastern Wake Co., and room for tens of thousands if not hundreds of thousands of new residents. Garner may also awaken, and its position close to downtown Raleigh could cause it to easily double in size.
Materials and supply chain issues will affect all housing costs, not just the costs in core counties. What drives lower costs is land values, and demand drives the value of the land.
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