Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
As so many "pushers" of the glories of this area proclaimed we could weather this storm so much better than others. I have repeated stated this area is uniquely positioned to eventually see the very worst of this impending depression. While other areas have industries I see being able to somewhat recover the triangle may see large number of currently high paying professional jobs that never return.
//www.city-data.com/forum/7276986-post34.html
What will be will be and we will all do our best to get through it. We hardly need posters like you throwing it in our face. We are all plenty capable of watching the news and reading the internet. I for one, prefer to remain optimistic. Maybe I'm right and maybe I'm wrong...only time will tell. I do know that I will go there with my head held high and a positive attitude. These little wars you have over who said what and who called the recession first and real estate surging or tanking are getting a little old.
One minor correction....
2009. Money to flow into the state and local economies in the short term. What happens when the stimulus money runs out and the roads and bridges are HALF done? What then?
One minor correction....
2009. Money to flow into the state and local economies in the short term. What happens when the spendulus money runs out and the roads and bridges are 10% done? What then?
Job market was in trouble before the crissis......If you check back I noted that this was the case two years ago. This is not just a pxxxing match at doom and gloom or the sunny side up club. This does not make me happy, that I was on the mark over two years ago when I stated that the jobs really were not here and this was a housing cash out that would result in bad things. It was the wrong kind of growth and my predictions are very bad going forward. UNC analysis: Jobs growth sliding before recession :: WRAL.com (http://www.wral.com/news/state/story/4561614/ - broken link)
It's not the "this is reality" part of it that annoys me. I understand that those posts are necessary to balance out the Pollyanna posts from others. It's the ". . . . I predicted this, not you" part that is growing tiresome.
I agree I think we all knew what was coming, I could see the trainwreck in our economy before I moved here, however I was transferred so I followed suit.
Raleigh isn't alone, I came from Virginia Beach which had significantly overpriced real estate. When I lived in an apartment there my neighbors were talking about how they wanted to buy "It's only $2,000 a month for a mortgage!!!" that was a direct quote. Holy christ do you people realize what $2,000/month is in real terms??? That's $35,000/yr in pre-tax income going to housing. They made around $80k pre-tax combined, not a lot of money. I can't remember exactly but the average home price there was well into the $300's. Ridiculous. They are going to fall hard. My house was bought new for $160k in early 2005 and I paid $172k in early 2008, hardly unreasonable. There was't much of a price runup here. Although I do think the higher end homes of the $300k and up category are going to fall harder. If the average person can't afford to buy your home it's going to take longer to sell.
Raleigh however still has reasonable priced houses, a solid base of industries (healthcare and education, as well as state Government) and has a good location in the states. There are certainly worse places to be right now.
The entire country is in a recession - nothing is recession proof. Yes, they say education and healthcare are more likely not to get hit AS hard but how can it not suffer when there will be less people able to afford healthcare or education/college due to lower on no wages? And the real estate market has gotten hammered too - everywhere.
Job market was in trouble before the crissis......If you check back I noted that this was the case two years ago. This is not just a pxxxing match at doom and gloom or the sunny side up club. This does not make me happy, that I was on the mark over two years ago when I stated that the jobs really were not here and this was a housing cash out that would result in bad things. It was the wrong kind of growth and my predictions are very bad going forward. UNC analysis: Jobs growth sliding before recession :: WRAL.com (http://www.wral.com/news/state/story/4561614/ - broken link)
Predicting that we will have a recession is about as impressive as predicting that we will have rain, even if there is a drought. Without fail, eventually it rains and eventually we have recessions. It is impossible to never rain and it is impossible to never have recessions. You can't have endless positive growth. It never has happened and it never will.
But I thank you for the linked article. I really like this small section from Mike Walden. I work with his daughter. He's pretty bullish on NC and the Triangle with his expert analysis. It's always good to look at the big picture, rather than specific segments that may meet one's particular theory.
"North Carolina State University economist Mike Walden argues in his book "North Carolina in the Connected Age: Challenges and Opportunities in a Globalizing Economy" that the state has done well in transforming its economy to one featuring information technology, chemical products, food processing, transportation and banking. The state's economic transition to high-tech industries continues, Walden said. Twenty percent of the state's economy comes from manufacturing, compared to 12 percent nationally, he said. More manufacturing explains why North Carolina's economy grew faster and employment was stronger during good years, and sank lower during the current recession and the previous one in 2001, he said. Manufacturing tends to produce goods consumers can choose to postpone. "Then, on the up side, when the recession is over and people have all this pent up demand, manufacturing takes off," Walden said."
Yes CD there is some that predict the triangle will be the next NY and some that say it will see a huge collapse as population moved with out a solid job base. This all will play out over time, Also read one on the charlotte thread which had his puplished views to the sunbelt and future. Its not hard to make a call when you take into account what has to happen to support growth. That is Jobs, even as retired transplants moved in they now are going back to work because the 401 took a dump, more pressure on an already stressed job market. Uneployeed from all over the country think we have a great job market.
Yes CD there is some that predict the triangle will be the next NY and some that say it will see a huge collapse as population moved with out a solid job base. This all will play out over time, Also read one on the charlotte thread which had his puplished views to the sunbelt and future. Its not hard to make a call when you take into account what has to happen to support growth. That is Jobs, even as retired transplants moved in they now are going back to work because the 401 took a dump, more pressure on an already stressed job market. Uneployeed from all over the country think we have a great job market.
As long as we are representing BOTH sides of what the economists say, then I am good with that. You are correct that it will just play out the way it will and we will have to see. I have said all along that 2008 was not the year of pain for the Triangle, but rather 2009. That turned out to be spot on. I have also predicting the end of the US as we know it in the near future. However, I predicted a false recovery later this year into next year, prior to the real devastating collapse of the economy as a whole. I am staring to think I may be off on that one. I am thinking the government has decided to run us straight to hell now, rather than waiting.
As so many "pushers" of the glories of this area proclaimed we could weather this storm so much better than others. I have repeated stated this area is uniquely positioned to eventually see the very worst of this impending depression. While other areas have industries I see being able to somewhat recover the triangle may see large number of currently high paying professional jobs that never return.
//www.city-data.com/forum/7276986-post34.html
Okay guys, it is bad enough that I have to listen to all the doom and gloom news on CNN, now there is the "City-Data" version too .
Anyway, I am an IT professional and do agree that there have been layoffs and overall job loss in this sector which does not make me feel very comfortable at the moment. However, prior to the economic debacle most of the jobs in the RTP were and still are short term contract jobs anyway, which in my opinion was not that great to begin with. Realistically, NOWHERE is recession proof; however, there was an article that came out in Forbes that included North Carolina as one of the places to ride out the recession... America’s most recession-proof cities - Forbes.com- msnbc.com …. I think this what you may be referring to.
Although jobs are being lost everywhere and probably more than we would like to see in the Triangle, I understand clearly what the article means. Despite the economic hardships being experienced by everyone, unless you have been living in a cave somewhere at the edge of the world, things are much better here than it is in a lot of other states within our union. The shopping malls are not a ghost town yet, and people are still dining out. My kids and I showed up at Magiano's Little Italy about 4pm on the day of our wedding anniversary (last month) for dinner; I was told that a reservation was not necessary, to my surprise, the maître d' told me that I would have to wait until 9pm because they were book solid. He stated that they take reservations up to 90 days in advance, go figure.
In addition, the new home builders in the triangle don't seem to be getting off their price either, although some of them have slowed down the building process. Education and Medical fields in NC are still flourishing despite some cut backs in services. Having born and raised in what many would call a 3rd world country, it amazes me to see how easily many folks here are panicking not because they are without a job (which is understandable) but merely because they do not know how to deal with adversity and are no longer enjoying some of the luxury they were so accustomed to having at their finger tips.
I guess my point here is yes, there are real problems here, but not as bad as many other states right now. We should be grateful for what we have and focus on the glass being half full instead of half empty. In addition, it is times like these that test our true character. We should all pray for our nation and for our fellow citizen that may have it a little worst than us; In addition, help someone whenever we can and keep it moving.
No offence mystery member, but like many other negative news reports out there, yours focusing on the “doom and gloom” of the IT job market may make one feel like blowing their own brains out due to lack of hope. We should all expect the worst, but hope for the best. I really believe that things will turn around, this was the same feeling many had directly after 9/11 in New York and before we realized that we were out of the down moments things were back to normal.
Last edited by SunnyKayak; 02-22-2009 at 12:15 AM..
Reason: personal attack
Okay guys, it is bad enough that I have to listen to all the doom and gloom news on CNN, now there is the "City-Data" version too .
Firstly, is there a reason the above poster is hiding who he or she is? Anyway, I am an IT professional and do agree that there have been layoffs and overall job loss in this sector which does not make me feel very comfortable at the moment. However, prior to the economic debacle most of the jobs in the RTP were and still are short term contract jobs anyway, which in my opinion was not that great to begin with. Realistically, NOWHERE is recession proof; however, there was an article that came out in Forbes that included North Carolina as one of the places to ride out the recession... America’s most recession-proof cities - Forbes.com- msnbc.com …. I think this what you may be referring to.
Although jobs are being lost everywhere and probably more than we would like to see in the Triangle, I understand clearly what the article means. Despite the economic hardships being experienced by everyone, unless you have been living in a cave somewhere at the edge of the world, things are much better here than it is in a lot of other states within our union. The shopping malls are not a ghost town yet, and people are still dining out. My kids and I showed up at Magiano's Little Italy about 4pm on the day of our wedding anniversary (last month) for dinner; I was told that a reservation was not necessary, to my surprise, the maître d' told me that I would have to wait until 9pm because they were book solid. He stated that they take reservations up to 90 days in advance, go figure.
In addition, the new home builders in the triangle don't seem to be getting off their price either, although some of them have slowed down the building process. Education and Medical fields in NC are still flourishing despite some cut backs in services. Having born and raised in what many would call a 3rd world country, it amazes me to see how easily many folks here are panicking not because they are without a job (which is understandable) but merely because they do not know how to deal with adversity and are no longer enjoying some of the luxury they were so accustomed to having at their finger tips.
I guess my point here is yes, there are real problems here, but not as bad as many other states right now. We should be grateful for what we have and focus on the glass being half full instead of half empty. In addition, it is times like these that test our true character. We should all pray for our nation and for our fellow citizen that may have it a little worst than us; In addition, help someone whenever we can and keep it moving.
No offence mystery member, but like many other negative news reports out there, yours focusing on the “doom and gloom” of the IT job market may make one feel like blowing their own brains out due to lack of hope. We should all expect the worst, but hope for the best. I really believe that things will turn around, this was the same feeling many had directly after 9/11 in New York and before we realized that we were out of the down moments things were back to normal.
It truly amazes me that we so accept if some posts YIPPE YEAH post for the the triangle no one comments on please we've had enough of that sunyside is always up never a gloomy day here in the triangle krap. Hey there Mr Jamerican man if you don't care to discuss reality which is also has it's bad and down side then don't watch the news and don't read these posts. But don't complain if some of us here want a balance of coverage.
I don't mind if you disagree with opinion that in the long run the triangle is going to suffer much worse than alot of other areas in the country, but if you want to just complain about the fact that I dare bring it up here... then no offence, but maybe it you who should go back to where all just sit around and say all day "don't worry and be happy."
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Here we go again .. the sky is falling.
Okay guys, it is bad enough that I have to listen to all the doom and gloom news on CNN, now there is the "City-Data" version too 
