I moved from CA to Charlotte Nc in 2002.
New houses were selling in charlotte for ~55 a sqft in the 3000 sqft range. I snagged myself one in 03.
However I drove around a little the last week looking at houses being built. The last of the cheapish developments are almost finished and about to be closed out. Around these developments are other newer developments where the cost of entry is 100 a sqft and up. 3-4 years ago, you couldn’t find 100 a sqft anywhere, now that’s all there is.
So Ladies and gentlemen, we are now officially inflating a house bubble.
OK I guess we are giving equity refugees from CA and NY/NJ etc a place to throw away their money. OK.
Another interesting fact was, 98-02 house prices in Charlotte went down. That is cos builders switched from stick built to part pre fab areound then. Now, they seem to be doing stick build again.
Cool.
Cow_tipping.
