Back a few posts there are some lofty discussions about how and why residential towers were built and proposed in uptown Charlotte. Unless I missed it one of the factors left out is desire. There wasn't just some unrealistic push by developers to built something for investment to capitalize on easy credit. There was demand by buyers. Buyers who wanted whatever lifestyle they percieved to be in center city Charlotte and with that type of condominium. Consider them stupid or whatever you wish to, but just like someone who chooses a lake house, townhouse, mcmansion, they wanted what they bought. In many cases with my neighbors, they moved from a city with mid and high rise condos and condensed urban areas, and upon arriving here wanted to find the same.
The denser deveopment in uptown actually started at a moderate pace with just a few low rise and mid rise buildings being built in the late 90's and early 2000's. Once momentum started building, along with our population growth, more and more came online. Likely too many, but again, it was driven by demand coupled with population growth and, yes, easy credit. But easy credit or not, if no one buys, nothing get built. There were likely too many investors in many of the projects, but it wasn't a majority of buyers, usually under 20%. I can say with a good bit of certainty that people wanting to flip these type of units are likely not in the picture any longer, but those that want to live downtown are.
It was demand that brought these towers and it will be demand that brings back more over time. All the planning concepts and developer desires in the world won't make people live somewhere they don't like or don't want. People liked and wanted what was built and when credit dried up, then crashed, so did construction. It also halted people from signing up, right now, for new projects because they can't get financing. This also isn't to say they should get financing for this right now or that everyone should have gotten the loans that they did.
To say that market conditions and the credit crunch will completely change forever the construction patterns and lifestyle desires of individuals is taking a pretty long jump. It certainly might turn out that way, but it would be from people deciding not to live there, not because some land pressure made those buildings go away. Regardless it is just opinion from us all.