Since the housing bubble burst, metropolitan areas
have seen an exponential increase in apartment buildings. Charlotte is no different. The central planners’ primary interest is high
density urbanization that primarily appeals to young, single professionals. Many are concerned this building frenzy isn’t
market driven, but is financed by low interest rates and wealthy Chinese
investors with an EB-5 visa.
What these central planners haven’t realized is
sooner or later these young people are going to marry and want families. Living in an apartment will no longer have
its appeal. They are going to want to
own a home of their own. The question
remains will these apartments retain its occupancy rate over time. Here is an excerpt from WCNC:
Real Data found in its Fall report that there are 23
apartment buildings currently under construction, and 18 more in the planning
phase. This is in addition to a steady stream of apartments opening in recent
years.
"Development will eventually slow down. We can't keep up at
this pace," said Dalton.
Some are even suggesting the growth uptown is experiencing with
apartment buildings might be a bubble.
"There's a bubble of apartments being built. There's seems
to be a tremendous amount of them coming online," said SouthEnd realtor
Rob Swaringen. "It'll be interesting to see in the next five to 10
years."
Dalton acknowledged there's some concern in the community that
the apartment boom might bust, but doesn't think Charlotte's at that point. He
predicts some of the apartment projects won't come to fruition.
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