Home sales in N.C. retiree hotbeds plunge $3B, Wilmington leads fall

Residential sales in North Carolina retirement “hotspots” dropped by $3 billion in the past three years, according to a National Active Retirement Association (NARA) analysis of the North Carolina Association of Realtors’ sale statistics. Wilmington and Asheville accounted for $1.6 billion in that decline - reports the Greater Wilmington Business Journal.

“Aging boomer and retiree homebuyers flocked to the Asheville, Hendersonville and Brevard mountain area and the Wilmington coastal area in the mid-2000s,” said NARA executive director Dan Owens in press release. “The housing downturn in Asheville and Wilmington alone accounted for about a $1.6 billion housing drop – more than half of the total in the 2009 versus 2006 sales analysis.”

In 2006, Wilmington sold about $2 billion in residential home sales. In 2009, home sales in Wilmington dropped to $1 billion.

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The fact is that home values have declined more in this County than many other places at a time when taxes have increased and spending was out of control. Cronyism wasn't the fault of anyone but the status quo--it's not just one candidate that's fed up with status quo--it's many of us.
Your mean spirited and erroneous postings have and will continue to backfire on you and the old guard--voters see through it and at this point know better

As you will notice, although he lies and uses a number of post names, Brian Berger continues to boast himself over and over again on this blog. Since he has no job, he has nothing else to do!

when it comes to home values we need more and better jobs and we can only get them by having a local government that is sound and fiscally responsible. The present officials are out for themselves-we dont want higher taxes or wasteful spending. I do want home values to go up-and I believe it is another symbol of failed leadership that homevalues have declined more in this County than in other places. We need new leaders and we will be voting for
a better leader in Brian Berger.
Brian Berger and Tom Goolsby are casndidates that will be good for home owners.

With better leadersjp locally we might create incentives to attract more and better businesses to our County. We have a great location. Self serving politicians wrapped up with special interests have let us down. Berger's fiscal policies and focus on attacting more and better jobs would be a step in right direction.

one of the reasons home values have declined more in wilimington is an economy more stagnant than most places because of mediocrity in county leadership. We need better jobs and more of them to build a better economic base that will spur growth and values. We need to vote out and vote against more of the same--Brian would be a small businessperson in tune with issues that face us--and with his stand against more taxes-would help us improve local economy and perhaps reverse this excessive decline in home values

In any week, for every item of good news you read about, there are at least two or three items of bad news.

If any of you watched Kudlow on CNBC last night, you'd know that the Fed is working very hard to stimulate the economy.....by printing money at a record pace. That's what's commonly referred to as "first order inflation." Believe it or not, even money follows the universal law of supply and demand. Create a glut and the value of the money plummets. That's what the fed is doing right now.

They are playing with the idea that since the economy is SO dead that we're not risking any inlation, but history and economics are not on their side. Take a look at some pictures from the Weimar Republic and watch people taking baskets full of cash to go buy bread. That's the result of first order inflation....

...and if we don't get our debt and monetary policy under control, it's coming to us, folks. Oh, maybe not to that extreme, but the concept of having half the population pay to support themselves, the other half, and run the enture government is coming home to roost. The government can't raise enough money from the productive members of society without raising taxes enough to totally destroy the economy. So they borrow....more, and more, and more....

...and now they've started printing more, and more, and more.

The answer is neither borrowing nor printing. The answer is cutting spending, starting with the biggest chunk of change - entitlements. The days of government playing Santa Claus need to end, now.

Remember that in a few weeks, when you go to the polls.

no Realtor has a whippy response on how the numbers are misleading or the local housing market has tanked?

On the other hand, it's a great time to buy and fortunes are being made or increased.