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Raleigh, Durham, Chapel Hill, Cary The Triangle Area
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Old 09-11-2016, 09:13 AM
 
166 posts, read 163,563 times
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Quote:
Originally Posted by wheelsup View Post
I honestly can't tell if you are serious or joking. A part of me actually things you believe what you wrote!
From what I can tell, you would be on some sort of airline pilots career path, is that correct? Because that career would put you completely out of the loop on everything I was talking about. That would absolutely explain your confusion.
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Old 09-11-2016, 11:22 AM
 
1,527 posts, read 1,483,474 times
Reputation: 1487
NYC could be reasonable years ago.

In 1985, we left a middle income project in Manhattan, Stuyvesant Town, with a stabilized rent of $550/Month including all utilities. That unit now rents for $3700.

The "gentrification" is spreading to many cities including Raleigh.

This will cause a stratification by income resulting in civil unrest.

Greed must be held in control or the US will lose what makes it great.
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Old 09-12-2016, 09:55 AM
 
13,811 posts, read 27,479,750 times
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Quote:
Originally Posted by McWallace View Post
From what I can tell, you would be on some sort of airline pilots career path, is that correct? Because that career would put you completely out of the loop on everything I was talking about. That would absolutely explain your confusion.
Just a hunch but my guess is you have no clue what that career entails just by the way you word it, except what you've read on the Internet.
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Old 09-18-2016, 08:35 PM
 
10 posts, read 12,646 times
Reputation: 39
Quote:
Originally Posted by zinner View Post
Plenty of six figure + incomes in they area. Two people pulling in 300k (combined)/year is really not uncommon. That is a 600k house if you use the old twice your income rule.
It might not be uncommon but it's not common either. Most families in this area are not making 300k a year. Or even 200k a year. That's specific to expensive neighborhoods but definitely not representative of the area as a whole. High salaries are not the reason for the real estate spike. Even the people I know that do have good jobs have giant student loans so still can't afford to spend a lot on housing. Most of my friends/family are locals to NC and they are getting priced out of the market (or have to spend more than they're comfortable with) with houses costing 400k+.
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Old 09-19-2016, 05:55 AM
 
390 posts, read 367,179 times
Reputation: 589
I think it's important to define what "rising salary" means.

Access to high paying jobs here is good. Excellent in fact. The market is solid (albeit competitive) and jobs frankly pay better than they probably need to given costbof living at present. Will annual salary raises match COL increases? Usually not in any growing city.

That said, this is very industry specific. If you are on track to become a manager at a tech company...I think salaries are doing well. Opportunities for growth are endless. Teaching? Blue collar? Civil service? Probably much less so. I would expect the need to climb the ladder some to pace inflation/development.
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Old 09-19-2016, 07:48 AM
 
115 posts, read 135,653 times
Reputation: 131
The housing market in parts of the Triangle, specifically the region around RTP are driven by two things.

1. The type of employment, which is tech and biotech, both of which have high average salaries.

2. Desirability. Both of the state as a whole, and of the area in particular.

My concern for this specific area isn't that it's a bubble, it's that it's in danger of being economically stratified.

Almost all the new construction I see is fairly high-end. Townhomes and more modest existing housing is being snatched up by investment companies. We looked for a year at buying a new construction townhome - but decided against it when it was clear they were all very likely to be little more than rental communities.

We are a long way away from it, but I do suspect we are going to have shades of silicon valley in ten years or so. A lot of valley companies are eyeing this market for east coast locations, bringing more high salary tech jobs to the area. It will be great for overall growth, but is going to price a lot of middle and working class families out of the housing market.
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