Is a bubble that is re-inflating.
We have not learned a thing. People are hoping for high house values so they can borrow against their houses (again). RE agents get more $ for the higher priced homes as well.
Whatever happened to the joy of paying your mortgage off early? Of using THAT money for your toys or savings?
I firmly believe the housing rebound is short lived. Locally the DAK and Invista situations may hurt housing. There are still houses in the foreclosure pipeline and with unemployment ending next week for hundreds of thousands of NC residents I believe foreclosures may increase again.
"Money" should not be fast and easy to get. Substantial down payments should be required. Nor should banks encourage reckless borrowing.
But the underlying fact remains - by taking out DAKs payroll out of the economy this area will get hurt. The same holds true for unemployment benefits....
but by no means "rebounded". While real estate was vastly overpriced in 2005-2007, there are still far too many properties that are bank-owned. Unfortunately, the lending process was so loose then, if you could "fog a mirror" you qualified based solely on what you "said" you earned. And now...those properties are in foreclosure or have been foreclosed.
no it may have up-ticked a little bit but in my neighborhood which is within 2 miles of Carolina Beach a house was listed for 189k and sold for what i don't know, but the point is in the mid 2000's he probably could have gotten 250k. my neighbor two doors down bought his house during that time and paid 269k.
I can not understand why Tabor City has been left out in the cold. Most every home over here is on sum sort of assistance. Tabor City is a beautiful little to with great lighting downtown, a wonderful open space right in the middle of town. even though that's where the train used to run. ( Boy do I miss the train ) I would sit and watch it go by and stay there till it crossed the State line. There are a couple of restaurants in to but nothing really all that special. I would love to see the gay community from Wilmington, Florence, and Myrtle Beach, come together and open some business here. That's how it started in Wilton Manors,Florida. Once you come in and build a community with a couple of bars, a few top end restaurants, some antique stores, so artist shops a couple of Bed & Breakfast and a few hotels. Have parties from the tomatoes picking, yams festival, Halloween parties, 4 of July party with a large firework display, hey how about a party for memorial day and show our military vets and active duty how much we care for them. Yes I know Tabor City is about 25-30 miles to the beach but really ad a few pools here and hotels with pools, Lake Tabor and some fun things to do after the beach I think it would be nice to come back to out small town hospitality. Relax take in some local bands and leave the rush and parking fees at the beach and come on home to Tabor City North Carolina. Were leaving the lights on for you.