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2012: 2011 REDUX?

2012: 2011 REDUX?
No one is quite sure where the local economy is headed. But a panel of some of the best brains in Charlotte attracted more than 200 to the Charlotte Apartment Association?s January Forecast Breakfast at the Westin uptown last week. And by all accounts, ?12 could well be a reflection of ?11.
Crosland spinoff Northwood Ravin?s David Ravin; Wells Fargo economist Michael Brown; Charlotte Chamber president and CEO Bob Morgan; multifamily developer Ginkgo Residential?s Scott Wilkerson; and Charter Properties' John Porter at the Charlotte Apartment Association monthly breakfast at the Charlotte  Westin
Panelists: Crosland spinoff Northwood Ravin?s David Ravin, Wells Fargo economist Michael Brown, Charlotte Chamber president and CEO Bob Morgan, multifamily developer Ginkgo Residential?s Scott Wilkerson, and Charter Properties' John Porter.
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About 200 showed for the Charlotte Apartment Association's 2012 Forecast Breakfast
Michael kicked off the breakfast with a prediction that the next two years could see a spike in for-sale housing. Why? Because so many single-family home owners have been foreclosed upon, which, naturally, drives prices down. Bob (the Chamber guy who followed Michael at the podium) said Charlotte still has much to offer: the airport, light rail, and a growing and diverse workforce. Those assets have drawn significant new business to the Queen City, including Chiquita.
Real Data?s Charles Dalton at the Charlotte Apartment Association's 2012 Forecast Breakfast
We also ran into multifamily market-watcher Real Data?s Charles Dalton. Charles told us one thing we didn't expect to hear: Demand for multifamily housing has begun to slow. Charles attributes the anticipated reduction in apartment demand to lack of new job growth. He's hoping that trend will change in the coming months.