With more and more frequency I am being asked by potential Lake Norman home buyers about the future expectations and direction of our local economy. Are Lake Norman, Charlotte and even the State of North Carolina seen as a good place to invest in the long term? Where are our local and regional economies headed?
The good news is that this is indeed the silver lining for our Lake Norman real estate market during this economic downturn. Lake Norman communities, Charlotte and North Carolina are all predicted to be popular destinations for future businesses and to experience continual population growth in the years to come. I base this on a number of recent articles from a variety of sources as well as my own observations over the past 6 years. Here are some of the most relevant about Charlotte and North Carolina and some older articles I have written about Lake Norman growth and development that are still relevant:
- Post-recession, N.C. economy well poised: This April 12, 2011 article in the Triangle Business Journal refers to an analysis by the Economic Group of Wells Fargo Securities which concluded that North Carolina is “well positioned for growth when the expansion comes around the bend…”. “North Carolina, they found, has a regional competitive advantage in 21 industry groups, only one step behind Florida, which had 22…Among North Carolina’s groups are health care, non-durables, professional and technology and accommodations and food.” “North Carolina continues to augment its reputation as a home for cutting-edge research and is also becoming a major destination for national and regional headquarters…Charlotte also continues to attract a growing cadre of corporate and regional headquarters and its financial sector is growing again…”
- Chief Executive Magazine ranked North Carolina #2: For the second year in a row in their poll of the best states in which to conduct business. ” 550 CEO’s evaluated the states on a broad range of issues, including regulations, tax policies, work-force quality, education resources, quality of living and infrastructure.”
- Charlotte is ranked as the 3rd fastest growing city according to recent census numbers. “As North Carolina’s largest metropolitan area, Charlotte boasts affordable living and great jobs in a financial services hub.”
- Site Selection Magazine: North Carolina ranks 6th for new and expanded businesses.
- Forbes named Charlotte among best retirement cities
- Kippling lists Charlotte among the best cities for college graduates due to it being a “cost of living bargain compared to other major cities with a rebounding economy.”
- Mooresville Top Micropolitan again in 2009 by Site Selection Magazine which calculates the total corporate real estate deals by year.
- Mooresville #2 Micropolitan in 2010 by Site Selection Magazine
- Lake Norman Area is Growing and Improving Despite the Recession!
- Lake Norman Real Estate: Is Mooresville Really Bucking the Recession?
- Lake Norman Real Estate: Wow! A Lot of Good News!
While this is just the tip of the iceberg of information regarding our economic future, hopefully it will serve as reassurance that the long term prognosis for the Lake Norman real estate market, thanks to our growth and development and quality and affordability of living, is a good one.