In our last newsletter, we touched on a curious paradox playing out in the business world, and recent developments only reinforce this.
There’s a growing disconnect between the optimistic chatter from our clients, the cautious whispers from the Fed, and the often gloomy headlines in the news. Conversations with clients, ranging from real estate investors to manufacturers, reveal a common theme of uncertainty.
Many of our clients are surprisingly bullish about their own businesses, almost like they’ve found a secret path in a dense forest, yet they view the broader economy with a bearish eye, as if they’re expecting a storm on the horizon. It’s a strange mix—being a sunny optimist about your business while fearing an economic downpour.
And for anyone trying to make sense of it all, it feels like building a puzzle with the pieces from different sets: The pieces don’t seem to fit and the colors don’t match up.
And yet, despite the global lamentations echoing from every corner of the business world and the complaints about skyrocketing costs on everything from eggs to housing, the reality on the ground in the Carolinas tells a different story.
When you delve into the actual data, the economic landscape of the Carolinas paints a picture of a region that is not only rebounding effectively post-pandemic but also offering a conducive and dynamic environment for businesses to thrive.
Why?
Charlotte and Raleigh are among the easiest places to do business in the nation.
Only Boise scores higher for “Ease of Doing Business.” LA, NYC, SFO, and DET score the worst. The criteria for this rating span several key areas: Urban Recovery, Business Conditions, Economic Performance relative to 2019, and Fiscal Health.
And here’s something that might just make you do a double-take.
According to the Wharton Residential Land Use Index, the Carolinas aren’t just about buzzing businesses and finger-licking BBQ; they also have two of the most affordable housing markets in the nation.
That’s right, when it comes to affordability, Charlotte is up there with Detroit and Boise, leaving big names like NYC and San Francisco in the dust with their sky-high prices. Imagine that—a thriving city where you can actually afford to live comfortably without selling a kidney!
Zoning policies are a reason why housing in the Carolinas is among the least expensive in America
You’ve probably heard a lot of chatter about the new zoning restrictions in Charlotte and Raleigh, and let’s be honest, most of it hasn’t been exactly what you’d call a round of applause.
But according to the “Doing Business North America” project by Wharton/Zell Lurie Real Estate Center, it turns out these urban areas in the Carolinas are great for doing business and keeping housing prices low, thanks to their friendly zoning regulations.
Who would have thought that zoning, of all things, could be the unsung hero?
So, don’t let this opportunity just be another read in your busy day.
Take action, reach out to Cardinal Real Estate Partners, and see how we can turn these insights into tangible gains for you and your business.
Whether it’s a simple query or a major real estate decision, the right partnership can make all the difference in navigating these exciting but complex times. Let’s turn possibilities into realities together!
P.S. Here’s a personal habit tip I’ve been exploring lately: Gratitude. It’s simple but powerful. I’ve added just a few extra minutes to my morning routine to jot down things I’m grateful for. It’s amazing how this small act can set a positive tone for the day.
Why not give it a try for the week of Thanksgiving? A little gratitude each morning might just be the boost we all need in these busy times.
