Housing Market Has Solid Foundation in North Carolina

Housing Market Has Solid Foundation in North Carolina

RISMEDIA, Sept. 13, 2005 — (KRT) — A $1 million building permit issued to construct a single-family house in Wrightsville Beach, North Carolina; investors vying to get in on pre-construction deals; a neighbor's house sold in hours, another in just days; bidding wars escalating asking prices.

The question every investor, every homeowner, everyone who develops or builds wants to ask, but may be afraid to: Is there a housing bubble in Southeastern North Carolina?If so, when will it pop? And if it pops, what is the fallout? In 2000, investors watched their fortunes and retirement savings evaporate when the tech stock bubble burst. Now, with home prices reaching for the stars, and Realtors bemoaning a scarcity of million-dollar properties, some are questioning whether a real estate bubble exists and if it exists, will Gotterdammerung ensue?