Charlotte Business Says No To a Recession

By all accounts -except for a few Washington bureaucrats, our country is in a recession. Started by the crash in housing that began late in 2005, then the financial markets that began in late 2006, but really tanked in 2007, our country is an economic downturn, most experts are calling a recession. Recently, top bank economist went on the record saying they don’t see an end until the national housing market “bottoms out” most likely late in 2008 or sometime in 2009.

The Charlotte Chamber announced yesterday that first quarter job creation, was identical to first quarter 2007, at about 3000 jobs. Forbes noted last year that the three cities with the healthiest real estate- Charlotte, Portland and Seattle, all created jobs faster than the national average. In Charlotte, our real estate home sales have slowed down, but prices have remained remarkably steady (rising 2.3% according to Case-Shiller in 2007 to lead the nation’s major markets) as sellers who “have to move” have been able to find the buyers they need.

As I’ve written before, our downtown (uptown) has a multitude of cranes- 2 office towers, including massive Wachovia center with more square footage than the Bank of America tower, a 32 story BOA office tower,a Ritz-Carlton Hotel, a boutique hotel, the Nascar Hall of fame, between 10-12 hi-rise condominium projects, and the just completed Metropolitan Center which brought Target, Home Depot and other major retail to our uptown area.

From the business pages this week, the rest of the article at CharlotteCommunities

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