As someone who works in tech I'm excited and nervous.....Raleigh is become a very popular place and so is Charlotte.....I just hope cost of leaving doesn't get crazy since it's big in popularity right now
@@EllenPitts Johnston County! We have lived here for two years and our property value has increased by almost $100k. If you already touched on this, I apologize
A few huge companies came to Greensboro. The state gave them enormous amounts of money to come. Within 2 years they vacated the new buildings/warehouses and left the state. Along with all the money they were given. The longer I live the more I learn.
I would think that the starting salaries that Apple is rumored to be offering will definitely increase the value of the houses in the area. Those Apple employees have to live somewhere!
Also there is no concentrated area near the new campus location where Apple employees will want to live. In Austin there are several neighborhoods within walking distance to the campus. We don’t really have that here to that degree. I think having people trying to buy in a very concentrated area probably contributed to the values going up in the area immediately surrounding the Austin campus.
I don’t really know that information. I do know this... 1) we tend to have more tech talent in this area than we have jobs for. I recognize that tech talent comes with a lot of different skill sets. And 2) Apples initial move into Austin did not cause an immediate overall property value increase throughout the area and they started with the same number of employees they are starting with here. Apple has also said that the jobs will be created over a 9 year period. Quote from them... “up and running as soon as possible with 3,000 jobs being created from 2023 until 2032.” I think it’s complicated and there are a lot of variables that go into it, but my gut instinct is it will take a few years for this to have a direct impact on our housing market.
You have ESP. Something my daughter used to say when she was 4 years old, when something came true that I predicted. She would say you have ESPN😂 The true term is ESP.
This is disappointing. The charm of moving to Raleigh feels like it's being stripped away. Honestly I've been looking at moving to Raleigh and this is bad news and kind of unfair. I'm sure the Real Estate people will benefit but it hurts people like me that genuinely wants to be closer to my family. I'm not happy with this news but it is what it is
I know what you mean! When we moved here it was a very small city. It’s really changed a lot! There are other cities in North Carolina that are not growing as quickly. I would definitely check out Greensboro and Winston Salem.
Apple is not moving to Durham. It's moving to RTP within Wake County, not Durham County. Also, none of RTP is within Durham City limits. Also, not all big tech is in "Durham period". Get your facts straight.
Wrong s@@johnlabus7359 you are absolutely wrong look at the map RTP is all in Durham County not Wake,County you have no clue to what you are talking about I worked in RTP and live there it all in Durham County and I worked in the RTP mail room delivering all the mail to all the buildings there like I said Durham not Raleigh thank you. You also have two nationally known Universities here in Durham as well, North Carolina Central University, and Duke. Both schools work closely with RTP www.nccu.edu/
@David, I like leaving differing opinions so I don’t want to delete this comment. But I don’t like name calling. Please remove the last sentence for me and I won’t remove the comment.
@@johnlabus7359 RTP is mainly in Durham. Doesn’t even come close to the Raleigh city limits. Everyone that lives out of state or moves here seems to not understand RTP was really never part of the Raleigh area. But Raleigh seems to attract more people due to it being the capital of the state and biggest city in the Piedmont region.
Absolutely, but I also think this will take time. They have said they will be hiring 3000 employees....over the course of 9 YEARS. That is a long time. They are also expanding into multiple different states so there will be a lot of expansion all at once. I am really curious how they will handle all the hiring because nationally, there is a shortage of engineers in the tech. It seems like they have a huge market for expanding their products and services but not necessarily the talent to make it happen. I'm wondering if part of their master plan is to not only hire 3000 employees here, but to develop the programs in our universities to actually train them, because we have the infrastructure and the calibur of student...which is why it is going to take 9 years. Just my thoughts...
Interesting and I hang on your every word - really good analysis, as usual. Nothing lasts forever, though, so maybe someday Apple will become like IBM, a dimmer version of its former self. But I think one of your really good points is that 3,000 jobs will likely double or triple over time. Ha, now Raleigh needs to have a major multi-day music event like Austin (or maybe you already do).
Aw, thanks!! :-) Actually, Raleigh was recently recognized as one of the top music scenes in the country by Rolling Stone! And we do have a multi day music festival... the Hopscotch Festival which runs 3 days with 130 bands hopscotchmusicfest.com/
@@EllenPitts Very cool. I see Lollapalooza in Chicago is returning this summer so maybe Hopscotch will too. Another selling point of Raleigh - geez way to pile it on!
It is no longer affordable for the middle class family to live in the San Francisco Bay area.. When the tech companies moved in prices increased and neighborhoods become gentefied For every techie earning six figure income there are four new service jobs created. Where do expect them to live if housing is too expensive? It is not unusual for trailers or RVs to be parked on residential streets for substitute housing. Techies/high income individuals become NIMBY's preventing affordable housing. They complain that their quality of life would be impacted by increased density. Investors will be buying up properties as well.
There is the same thing happening here with people not wanting density. But that is the only true response to affordable housing….building more housing.
@@EllenPitts You don't know the power of special interest groups run by NIMBYs have over Sacramento. The state finally changed zoning to allow up to four houses on one property to increase density.
I came to Raleigh to do a research last year and decided to come. However Raleigh becomes less and less attractive to me because of the house price. If median house price turns into $400,000, I would consider to stay on Long Island instead. Why would I give up the current job with NY pay, connection built up over the years, friends, restaurants, proximity of beaches, and all the hypes in NYC, then move to a new place with only 20% saving on a house. I will have to get a new job, build my connection from zero, drive two hours to the nearest beach. It just doesn't make any sense.
I hope you all haven't gotten a bushel of rotten apples. Apple corp only paid 142 million towards construction. Where did the rest of the money come from?
Just who buys Apple products? They are on their way OUT. They will have to scale back just to stay competitive. Is there any way NC and retrieve their 840 million, if this goes South?
there is no WAY Apple is going south. They make the absolute BEST products for creators and the world is quickly shifting into a creators economy. Why would you think they are failing?
@@EllenPitts Apple stores, I this, I that, is waning. Plus their stock price is stagnant. I am using a Microsoft right now. Seriously, "Mr. Softy" is the way to go. Plus Steve Jobs passed. Ask IBM??? Dell??? Lotus, Whaaa? They have too many competitors.
I would not overdue the house building if I were you. Tech changes before you get the product out of he box. And not to mention these layoffs, that Apple in known for. I do hope that NC has a safety net to protect it from this investment, or someone's heads are going to turn.
As someone who works in tech I'm excited and nervous.....Raleigh is become a very popular place and so is Charlotte.....I just hope cost of leaving doesn't get crazy since it's big in popularity right now
@@artvandelay5956 I agree
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@@EllenPitts Johnston County! We have lived here for two years and our property value has increased by almost $100k. If you already touched on this, I apologize
It’s crazy how much values have increased in such a short time!!
A few huge companies came to Greensboro. The state gave them enormous amounts of money to come. Within 2 years they vacated the new buildings/warehouses and left the state. Along with all the money they were given. The longer I live the more I learn.
What was the name of of the companies?
Nice content.
Glad you enjoyed it!!
I would think that the starting salaries that Apple is rumored to be offering will definitely increase the value of the houses in the area. Those Apple employees have to live somewhere!
Well if they hire locally which they said they are going to do, probably not right away.
Also there is no concentrated area near the new campus location where Apple employees will want to live. In Austin there are several neighborhoods within walking distance to the campus. We don’t really have that here to that degree. I think having people trying to buy in a very concentrated area probably contributed to the values going up in the area immediately surrounding the Austin campus.
@@EllenPitts where are they planning to put the new campus? Do we have an address yet?
I don’t really know that information. I do know this... 1) we tend to have more tech talent in this area than we have jobs for. I recognize that tech talent comes with a lot of different skill sets. And 2) Apples initial move into Austin did not cause an immediate overall property value increase throughout the area and they started with the same number of employees they are starting with here.
Apple has also said that the jobs will be created over a 9 year period. Quote from them...
“up and running as soon as possible with 3,000 jobs being created from 2023 until 2032.”
I think it’s complicated and there are a lot of variables that go into it, but my gut instinct is it will take a few years for this to have a direct impact on our housing market.
It will be in RTP, but I haven't seen an address yet.
You have ESP.
Something my daughter used to say when she was 4 years old, when something came true that I predicted.
She would say you have ESPN😂
The true term is ESP.
😂
This is disappointing. The charm of moving to Raleigh feels like it's being stripped away. Honestly I've been looking at moving to Raleigh and this is bad news and kind of unfair. I'm sure the Real Estate people will benefit but it hurts people like me that genuinely wants to be closer to my family. I'm not happy with this news but it is what it is
I know what you mean! When we moved here it was a very small city. It’s really changed a lot! There are other cities in North Carolina that are not growing as quickly. I would definitely check out Greensboro and Winston Salem.
Apple is moving to Durham not Raleigh and RTP is within the Durham City limits all the big tech
Companies are in Durham period.
Apple is not moving to Durham. It's moving to RTP within Wake County, not Durham County. Also, none of RTP is within Durham City limits. Also, not all big tech is in "Durham period". Get your facts straight.
Wrong s@@johnlabus7359 you are absolutely wrong look at the map RTP is all in Durham County not Wake,County you have no clue to what you are talking about I worked in RTP and live there it all in Durham County and I worked in the RTP mail room delivering all the mail to all the buildings there like I said Durham not Raleigh thank you. You also have two nationally known Universities here in Durham as well, North Carolina Central University, and Duke. Both schools work closely with RTP www.nccu.edu/
@David, I like leaving differing opinions so I don’t want to delete this comment. But I don’t like name calling. Please remove the last sentence for me and I won’t remove the comment.
@@johnlabus7359 RTP is mainly in Durham. Doesn’t even come close to the Raleigh city limits. Everyone that lives out of state or moves here seems to not understand RTP was really never part of the Raleigh area. But Raleigh seems to attract more people due to it being the capital of the state and biggest city in the Piedmont region.
Do you think Apple coming in will raise salaries for IT professionals working at other companies?
Absolutely, but I also think this will take time. They have said they will be hiring 3000 employees....over the course of 9 YEARS. That is a long time. They are also expanding into multiple different states so there will be a lot of expansion all at once. I am really curious how they will handle all the hiring because nationally, there is a shortage of engineers in the tech. It seems like they have a huge market for expanding their products and services but not necessarily the talent to make it happen. I'm wondering if part of their master plan is to not only hire 3000 employees here, but to develop the programs in our universities to actually train them, because we have the infrastructure and the calibur of student...which is why it is going to take 9 years. Just my thoughts...
Interesting and I hang on your every word - really good analysis, as usual. Nothing lasts forever, though, so maybe someday Apple will become like IBM, a dimmer version of its former self. But I think one of your really good points is that 3,000 jobs will likely double or triple over time. Ha, now Raleigh needs to have a major multi-day music event like Austin (or maybe you already do).
Aw, thanks!! :-) Actually, Raleigh was recently recognized as one of the top music scenes in the country by Rolling Stone! And we do have a multi day music festival... the Hopscotch Festival which runs 3 days with 130 bands hopscotchmusicfest.com/
@@EllenPitts Very cool. I see Lollapalooza in Chicago is returning this summer so maybe Hopscotch will too. Another selling point of Raleigh - geez way to pile it on!
😂
It is no longer affordable for the middle class family to live in the San Francisco Bay area.. When the tech companies moved in prices increased and neighborhoods become gentefied For every techie earning six figure income there are four new service jobs created. Where do expect them to live if housing is too expensive? It is not unusual for trailers or RVs to be parked on residential streets for substitute housing. Techies/high income individuals become NIMBY's preventing affordable housing. They complain that their quality of life would be impacted by increased density. Investors will be buying up properties as well.
There is the same thing happening here with people not wanting density. But that is the only true response to affordable housing….building more housing.
@@EllenPitts You don't know the power of special interest groups run by NIMBYs have over Sacramento. The state finally changed zoning to allow up to four houses on one property to increase density.
I came to Raleigh to do a research last year and decided to come. However Raleigh becomes less and less attractive to me because of the house price. If median house price turns into $400,000, I would consider to stay on Long Island instead.
Why would I give up the current job with NY pay, connection built up over the years, friends, restaurants, proximity of beaches, and all the hypes in NYC, then move to a new place with only 20% saving on a house. I will have to get a new job, build my connection from zero, drive two hours to the nearest beach. It just doesn't make any sense.
Yeah I can see how it may be less attractive to some people as prices rise.
I hope you all haven't gotten a bushel of rotten apples. Apple corp only paid 142 million towards construction. Where did the rest of the money come from?
Just who buys Apple products? They are on their way OUT. They will have to scale back just to stay competitive. Is there any way NC and retrieve their 840 million, if this goes South?
there is no WAY Apple is going south. They make the absolute BEST products for creators and the world is quickly shifting into a creators economy. Why would you think they are failing?
@@EllenPitts Apple stores, I this, I that, is waning. Plus their stock price is stagnant. I am using a Microsoft right now. Seriously, "Mr. Softy" is the way to go. Plus Steve Jobs passed. Ask IBM??? Dell??? Lotus, Whaaa? They have too many competitors.
I would not overdue the house building if I were you. Tech changes before you get the product out of he box. And not to mention these layoffs, that Apple in known for. I do hope that NC has a safety net to protect it from this investment, or someone's heads are going to turn.
@@EllenPitts Tell me while you at it, Where is KODAK?
I’m not saying companies never go out of business I’m just saying I don’t think that is happening with Apple.