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It could continue if this area becomes even more of a tech hub. Google coming could encourage some of the other top tier tech companies to open up shop in this area. Look to Austin area trends to get an idea of what could happen here.
It could continue if this area becomes even more of a tech hub. Google coming could encourage some of the other top tier tech companies to open up shop in this area. Look to Austin area trends to get an idea of what could happen here.
Austin is a different beast though. I would not count this area to be as crazy as Austin. It obviously will be very desirable, but TX not having an income tax plays a huge role for companies moving there - Tesla, Schwab, etc. .
Plus, Austin has a reputation both for long term IT and fun place to live. It's music scene obviously is a big draw, and it's very artsy, and most importantly there is SO much capital there. A lot of people do not realize that the hot tech cities are HOT because they have lots of Tech Capital. People like to call themselves the Silicon Valley of this or that, but Silicon Valley is the Silicon Valley because over half of the venture capital is in Bay Area. Austin can't compete with the VC of Bay Area, but it can compete with places like Boston and NY to a certain degree. TX also has DFW and Houston that also have lots of VC power. All that oil money wants to diversify, do you know what I mean? Triangle doesn't have that reputation -- at least not yet. Durham actually stands out here, because per capita it is always rated in top five or top ten -- which is wild.
As for the housing, it will probably continue going up just because this was an undervalued market, tbh. You can't have that many jobs, decent schools and area that offers a good QOL and not have a hot market. It will probably ease a little after the pandemic, as there will be more jobs and people probably would want to either buy a bigger house or downsize. I think currently even those who'd like to sell aren't willing to do so because the market is so crazy.
Hopefully our legislature isn't going to duck this up now. I read somewhere that stupid mofo Republicans are prepping an anti-trans bill similar to what is being passed in other backwards states. They never learn, do they? The party of individual rights and freedoms is always so interested and want to controls peoples' genitals. They should just call themselves that really -- the party of control of individual wombs and genitals.
Austin is a different beast though. I would not count this area to be as crazy as Austin. It obviously will be very desirable, but TX not having an income tax plays a huge role for companies moving there - Tesla, Schwab, etc. .
Plus, Austin has a reputation both for long term IT and fun place to live. It's music scene obviously is a big draw, and it's very artsy, and most importantly there is SO much capital there. A lot of people do not realize that the hot tech cities are HOT because they have lots of Tech Capital. People like to call themselves the Silicon Valley of this or that, but Silicon Valley is the Silicon Valley because over half of the venture capital is in Bay Area. Austin can't compete with the VC of Bay Area, but it can compete with places like Boston and NY to a certain degree. TX also has DFW and Houston that also have lots of VC power. All that oil money wants to diversify, do you know what I mean? Triangle doesn't have that reputation -- at least not yet. Durham actually stands out here, because per capita it is always rated in top five or top ten -- which is wild.
As for the housing, it will probably continue going up just because this was an undervalued market, tbh. You can't have that many jobs, decent schools and area that offers a good QOL and not have a hot market. It will probably ease a little after the pandemic, as there will be more jobs and people probably would want to either buy a bigger house or downsize. I think currently even those who'd like to sell aren't willing to do so because the market is so crazy.
Hopefully our legislature isn't going to duck this up now. I read somewhere that stupid mofo Republicans are prepping an anti-trans bill similar to what is being passed in other backwards states. They never learn, do they? The party of individual rights and freedoms is always so interested and want to controls peoples' genitals. They should just call themselves that really -- the party of control of individual wombs and genitals.
No, we definitely don’t have that VC $ that the Bay has but the $1.7 mil townhouse out there is $350-450k here in a nice suburb like Cary.
As someone that has lived in the Bay Area, there is definitely an appeal here for those with families. $500k for a decent condition 2500 square foot single family home here is still cheap for them.
I do think we might catch up to Austin on the tech scene, especially with Google coming. Might take another 5-10 years though.
Then there are folks like me who have lived in redder states than NC. I’n originally from the northeast and I personally don’t want to ever live in a super red state again. Yes, I know Austin is “liberal” but I have absolutely zero interest in living in that state. I like it here in Raleigh, nice and moderate for me, plus my fellow north easterners are here.
Austin is a different beast though. I would not count this area to be as crazy as Austin. It obviously will be very desirable, but TX not having an income tax plays a huge role for companies moving there - Tesla, Schwab, etc. .
Plus, Austin has a reputation both for long term IT and fun place to live. It's music scene obviously is a big draw, and it's very artsy, and most importantly there is SO much capital there. A lot of people do not realize that the hot tech cities are HOT because they have lots of Tech Capital. People like to call themselves the Silicon Valley of this or that, but Silicon Valley is the Silicon Valley because over half of the venture capital is in Bay Area. Austin can't compete with the VC of Bay Area, but it can compete with places like Boston and NY to a certain degree. TX also has DFW and Houston that also have lots of VC power. All that oil money wants to diversify, do you know what I mean? Triangle doesn't have that reputation -- at least not yet. Durham actually stands out here, because per capita it is always rated in top five or top ten -- which is wild.
As for the housing, it will probably continue going up just because this was an undervalued market, tbh. You can't have that many jobs, decent schools and area that offers a good QOL and not have a hot market. It will probably ease a little after the pandemic, as there will be more jobs and people probably would want to either buy a bigger house or downsize. I think currently even those who'd like to sell aren't willing to do so because the market is so crazy.
Hopefully our legislature isn't going to duck this up now. I read somewhere that stupid mofo Republicans are prepping an anti-trans bill similar to what is being passed in other backwards states. They never learn, do they? The party of individual rights and freedoms is always so interested and want to controls peoples' genitals. They should just call themselves that really -- the party of control of individual wombs and genitals.
This is an under-stated aspect of the current LOCAL market IMO...
I agree the national trend is not sustainable and I think some areas of the country are vulnerable to a significant slump in values compared to now whenever some sense of "normalcy" returns....but the Triangle has been a "cheap" place with high incomes and very strong and growing economy for a while....and we're playing catchup. Hopefully not with Sillicon Valley or the "MetroWest" Boston suburbs...but I think we're due for Austin, Denver, Portland, Northern Virginia level housing prices. Hence the urgency
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