Charlotte Jobless Rate Holds The Key to…

February 19, 2009 · Print This Article

The Charlotte real estate market is really at the mercy of the jobless rate in Charlotte, North Carolina. Why? The basic instinct of people is to protect what they have when they fear losing it. So, it stands to reason that if people in Charlotte fear losing their job or losing their income they are not going to buy a house. In fact, they won’t buy and big ticket items like cars or boats either. They will naturally save their income just in case!

So, instead of watching the Charlotte real estate market to see what it’s going to do watch the jobless rate in Charlotte. When the Charlotte jobless rate stabilizes people will start taking advantage of the real estate portion of the stimulus package “candy” that is available. As soon as people do start buying homes in Charlotte in order to gain the tax breaks made available in the stimulus package we will see strong growth. People will quickly get encouraged by other buying real estate in Charlotte and they will follow along quickly just to get in before the incentives expire or are withdrawn.

The question everyone has is “When will the real estate market get better so I can sell my house?” The answer is, watch the jobless rate in Charlotte first, then watch the real estate market in Charlotte. When the former goes down the latter will go up. I promise that the market will get better… the question is, when will it happen. All I can say to that is… that’s a good question!

Written by Mark Ramsey