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Seabreeze

Has the bubble burst?

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http://www.charlotte.com/mld/observer/business/14183504.htm

Is this the beginning of the end for our condo tower boom? Also, is this going to affect any of the towers that haven't broke ground yet? ::crosses fingers about the Vue::

I also saw this article featured on cnn.com, which said the areas most affected by this decline were the south and west...

:shok:

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it seems like every area is going through tough times like this. Georgia had the largest number of foreclosures in the country last year. I wouldn't worry about it. I'm not an economics expert, but Charlotte seems to be booming. I don't think this will do much to deter its growth. At least you got the hall of fame!

has Charlotte ever lost population?

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Nah....no worries.

Charlotte is pretty insulated from this, with the biggest threat in new start home communities, which could plunge.

Uptown towers are being fueled by a couple of factors....people wanting to live downtown, and investors for rental units. I think there will be no slow down in people wanting to live downtown. Investors may slow down some, but with rising interest rates, more people look to rent, so we may have enough rent growth to make investing profitable.

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The investor stuff (rental property) I understand is drying up as money has started to head back into the stock market. Much of the money is coming from the real estate market.

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Charlotte is fine in the residential single family market. We've had slow, single digit appreciation for years. I think that will continue even as other markets implode.

The uptown condo boom may face a shakeout, though. It will depend on how many out-of-state flippers bought units.

By the way, is the bubble *news* to you? I've been following it for months.

Take a gander at http://housingpanic.blogspot.com and follow the links

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Charlotte is fine in the residential single family market. We've had slow, single digit appreciation for years. I think that will continue even as other markets implode.

The uptown condo boom may face a shakeout, though. It will depend on how many out-of-state flippers bought units.

By the way, is the bubble *news* to you? I've been following it for months.

Take a gander at http://housingpanic.blogspot.com and follow the links

The only news to me is the sharp decline in Feb, though I know this is partly b/c of the number of new homes entering the market. I just was worried about the towers that still haven't met the number of purchases required to start their project.

Thank you all for your opinions :)

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