Vacancy rate is 7.5%, up from 6.7% in Sep, 2015
Demand has weakened in last 6 months, with only 355 units absorbed out of 929 completed over that time
Development pipeline includes 3,040 units under construction and another 3,220 proposed
Greensboro's apartment bubble
which Roy Carroll just bought into big with the purchase of City View
...Average rents are: 1 BR-$673, 2BR-$760, 3BR-$973
Real Data projects vacancy to grow to 8% over next year, and rents to rise 2-3% as well.
Why should rents rise if the vacancy rate grows?
"The vacancy rate in the Greensboro/Winston Salem apartment market has risen to 7.5% due to weakened demand."
"The number of businesses listed for sale in the Triad is up, as is the typical asking price.
...57 businesses were put up for sale in Greensboro and High Point during the first quarter of 2016.
That’s up 24 percent from the same period last year.
Grifters looking for marks in a real estate bubble
The median asking price in Greensboro and High Point rose 28 percent to $250,000.
That’s roughly the same as the national median, which rose last year by 11 percent.
However, the median revenue for businesses listed in those two cities had dropped 9 percent to $420,000. Median cash flow also dropped 9 percent to $94,000."
Except our asking prices jumped 28% in a year as revenue and cash flow fell = Bubble
I don't care if I follow your rules, if you can cheat, so can I.
I won't let you beat me unfairly, I'll beat you unfairly first.
Fictional Military Strategist
Greensboro Commercial Real Estate Market Top; "[Roy Carroll] ups stake in downtown with $42M multifamily acquisition"
Depending where Marty Kotis' money was acquired
to develop the millions in investments over the last few years, he may have a serious problem,
as his restaurant ventures falter as we fall into an obvious recessionary decline
and his backing of HB2 lawmakers becomes clear to the public
clipping discretionary spending at his and Roy Carroll's businesses
on top of the economic growth downturn.
More proof of Real Estate Bubble in Greensboro; Quoted in the Wall Street Journal
The flapping of a single butterfly's wing today produces a tiny change…
…so, in a month's time,
a tornado that would have devastated the Indonesian coast doesn't happen,
or maybe one that wasn't going to happen does.
The Mathematics of Chaos
Piedmont Triad Real Estate Top Watch; "Wells Fargo Building SOLD"
The first rule is not to lose.
The second rule is not to forget the first rule.
China Containerized Freight Index; What Greensboro's elites and purchased puppets don't see coming