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Charlotte Mortgage Market Coming out of the Recession?

Take a look at the Charlotte Business Journal today. http://www.bizjournals.com/charlotte/stories/2009/03/09/daily36.html Foreclosures in North Carolina according to Realty Trac are down by 50% from the same time last year!

There actually is a ton of positive news out there this week. The stock market is up over 500 points this week. Companies are actually announcing that they are hiring again. Locally are we starting to come out of this recession? This thing has already lasted longer at the end of April than any other recession we've had since World War II. What about you guys in other parts of the country? What are you seeing out there?

Posted by Jon "J.R." Finger on 03/12/2009 06:23 PM

Comments (1)

recession, mortgage, north carolina, loans, stock market, positive, charlotte, kannapolis, concord, real estate

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1 Comments on Charlotte Mortgage Market Coming out of the Recession?

MAR

Jon: I don't think so. The thing that hasn't been disclosed is how bad in shape the banks are. Remember they're the lenders here. Although my business is really good so far this year (and I expect it to continue), commercial real estate is hitting the skids and the banks are heavily exposed to this. I expect the market to continue to jerk around this year. Recovery may begin next year. Expect slow to no growth this year.

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