Saturday, June 9, 2007

Just the Facts, Maam

A visit to Wikipedia bring this little tidbit about Raleigh.

The median income for a household in the city was $46,612, and the median income for a family was $60,003. Males had a median income of $39,248 versus $30,656 for females. The per capita income for the city was $25,113. 11.5% of the population and 7.1% of families were below the poverty line. Approximately one out of four (25.5%) Raleigh citizens are beneath 200% of the poverty line. Out of the total population, 13.8% of those under the age of 18 and 9.3% of those 65 and older were living below the poverty line.

Whenever I talk to my neighbors about the price of real estate locally, the conversation generally concludes with a question about who can afford these expensive houses. There are many of us who would not be able to buy our way into our own homes now, so the idea of $1 and 2 million houses seems, shall we say, over the top. Is it really possible that the economy in this area will be able to sustain an increasing quantity of this type of housing? A quick search of the real estate sites in the triangle brings some amazing examples of the high-life.

Why are so many still for sale? Is the sky the limit, or are we over-building for the over-the-top crowd?

Do your own research on the New Triangle here.

"It's a poor sort of memory that only works backwards."
-- Lewis Carroll Through the Looking Glass

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