The Banking Industry is helping Charlotte buck housing downturn
Reported by Bloomberg.com, Sept.19
New York financial consultant Archie Luna will escape a 90-minute commute when he moves next month to Charlotte, North Carolina, where he's buying a $350,000 house that triples his space. ``My work-life ratio has really been pretty sad,'' said Luna, who takes a train daily from Long Island to Manhattan. ``We can get a house we really want in Charlotte, and I think if we make the right decision, we'll be sitting on a lot more equity in 10 years.''
Newcomers to Charlotte are finding an oasis in the biggest U.S. housing slump in 16 years. Homes are still affordable because Charlotte wasn't a target of the speculative second-home buying common in Florida and California.
Read more here: Banks Help Charlotte, North Carolina, Buck Housing Downturn
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