As NAI Carolantic continues its commitment to tracking the information that will best help its clients make informed business decisions, positive signs are emerging that bode well for the future of the market on micro and macro levels.
In the April 19th issue of Business Week, staff writer Mike Dorning contradicted the polls with hard evidence of a national economic recovery. Among other things Dorning mentioned that manufacturing has been recovering for eight straight months, and that economists are revising GDP growth forecasts for 2010 from 2.1% to 3%. While recovery remains slow without a new driver for the economy, it seems that in spite of the recession woes and psychology, the indicators for a favorable return on a national level are present.
Locally, our region continues to receive positive national press with high rankings in various studies. Raleigh-Cary was recently named as the ‘Third Best Place in the Country for Business and Careers’ by Forbes.com and Durham metro ranked 23rd. The study ranked the 200 largest metropolitan statistical areas on cost of doing business; educational attainment; and economic, income, job and population growth.
There are also tangible signs that the Triangle economy is on the rebound. While liquidity from debt sources remains in short supply and underwriting stringent, at NAI Carolantic we are working with many well capitalized buyers that are seeking buy opportunities either with no debt or with a low debt to cost ratio. As the economy continues to improve, banks and other lending institutions predict that current lending restraints will ease…a process that appears to already be underway.