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16 minutes ago, KJHburg said:

More on the office market from JLL remember my post above about our high office absorption ( new move ins minus move outs)  was 3% of the total market size.

Well we are the 3RD BEST performing office market in the country in terms of % of total market size to amount absorbed in first half of 2019.  

1. Silicon Valley 5.3% market size 71 M + sq ft 

2. Austin  3.5%  market size   55 M + sq ft

3.  Charlotte 3%  market size 53 M + sq ft.

Charlotte in raw numbers of office space gobbled up took down more than these much larger markets Atlanta, Boston, Dallas, Denver, Detroit, Houston, Minneapolis, Philadelphia, Phoenix, San Francisco  just to name a few all those markets are much larger than Charlotte's.    Charlotte's office market is hotter than a doughnut at the Krispy Kreme Concord location. 

Don't believe me download the report for yourself

https://www.us.jll.com/en/trends-and-insights/research/office-market-statistics-trends

 

Impressive.

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https://www.bea.gov/system/files/2019-07/qgdpstate0719.pdf

Top 10 Largest Economies.

1.) California $3,051
2.) Texas $1,828
3.) New York $1,720
4.) Florida $1,072
5.) Illinois $888,233
6.) Pennsylvania $809,311
7.) Ohio $694,830
8.) New Jersey $639,941
9.) Georgia $608,058
10.) Washington $584,034

11). Massachusetts 581,718

12.) North Carolina 580,187

Great news for North Carolina. I can't belive there is a little more than a 20 billion dollar difference between GA, WA, MA, and NC.

 

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On 7/28/2019 at 8:12 PM, Ric0_0 said:

https://www.bea.gov/system/files/2019-07/qgdpstate0719.pdf

Top 10 Largest Economies.

1.) California $3,051
2.) Texas $1,828
3.) New York $1,720
4.) Florida $1,072
5.) Illinois $888,233
6.) Pennsylvania $809,311
7.) Ohio $694,830
8.) New Jersey $639,941
9.) Georgia $608,058
10.) Washington $584,034

11). Massachusetts 581,718

12.) North Carolina 580,187

Great news for North Carolina. I can't belive there is a little more than a 20 billion dollar difference between GA, WA, MA, and NC.

 

Apologies for my party-pooper hat today but I feel the need to point out that:

1) We are the 9th most populous state (and have the 12th largest economy)

2) Our per capita output is only $54,490 per person (using the 2018 BEA data) this ranks us at #33 (of 51). This is about $1,500 less than Georgia (which ranks 30th) and about $8,000 less than Virginia (which ranks 18th). Californians clock in at $75,000 per resident

3) We are actually moving backwards in terms of productivity -- our prosperity is declining relative to the remainder of the US.

4) On the plus side, North Carolinian's each produce almost $10,000 more stuff a year than South Carolinians (SC ranks 46th in output per capita).

There are lots of culprits here but economic development policy emphasizing rural areas and low skill jobs plus poorly managed (and funded) K-16 should take the bulk of the blame. Sprawl and relatively small cities follow closely behind (high density places are much more productive).

Edited by kermit
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55 minutes ago, RaleighHeelsfan said:

Yeah, in eastern NC you have a town of 20 plus thousand always less than 30 minutes apart.

I think that's partly why the ncga is pushing for these connector interstates going through seemingly nowhere. 

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11 hours ago, CLT2014 said:

Excellent points. When you look at the 2010 census, North Carolina has a very low percentage of residents living in urbanized areas compared to the other top 10 states in population. Take a quick drive around North Carolina's small towns, and the struggle and decline is still present. These areas have a large percentage of our population, and counter-act much of the prosperity of the Charlotte area and Triangle when statistics are at the state level. It is also hard to see a road forward for many of these towns becoming growing / more prosperous in the modern economy. 

2010 Census, Percentage of Population living in Urban areas for Top 10 states in population:
California: 95%
Texas: 84.7%
Florida: 91.2%
New York: 87.9%
Pennsylvania: 78.7%
Illinois: 88.5%
Ohio: 77.9%
Georgia: 75.1%
North Carolina: 66.1% <-- the biggest outlier among top 10 states

North Carolina's peer states for percent urbanized are South Carolina (66.3%), Alaska (66%), Wyoming (64.8%). 

That's why we're here

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13 hours ago, CLT2014 said:

Excellent points. When you look at the 2010 census, North Carolina has a very low percentage of residents living in urbanized areas compared to the other top 10 states in population. Take a quick drive around North Carolina's small towns, and the struggle and decline is still present. These areas have a large percentage of our population, and counter-act much of the prosperity of the Charlotte area and Triangle when statistics are at the state level. It is also hard to see a road forward for many of these towns becoming growing / more prosperous in the modern economy. 

2010 Census, Percentage of Population living in Urban areas for Top 10 states in population:
California: 95%
Texas: 84.7%
Florida: 91.2%
New York: 87.9%
Pennsylvania: 78.7%
Illinois: 88.5%
Ohio: 77.9%
Georgia: 75.1%
North Carolina: 66.1% <-- the biggest outlier among top 10 states

North Carolina's peer states for percent urbanized are South Carolina (66.3%), Alaska (66%), Wyoming (64.8%). 

It’ll be interesting to see the numbers for the 2020 census...

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2 hours ago, Temeteron said:

It’ll be interesting to see the numbers for the 2020 census...

I'd wager NC is well above the 70% mark at this time. Maybe closer to 75. Slow rural and rapid urban growth should guarantee that.

Edited by Nick2
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