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Author Archives: Tara Ramsey, staff writer

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Building a bubble? Developers plan to add thousands of apartments to the metro area, which has some wondering about overbuilding (access required)

It’s a lot of apartments. There are 7,000 units planned for the Charlotte area, mostly for the area north of the city. More than 1,000 units are under construction, and it’s no wonder why developers are salivating over apartments: Now’s a good time to be in the rental business, thanks to tougher lending practices that make it harder for people to buy homes and a major dip in confidence in owning brought about by the housing market’s collapse.

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Distressed: A look back some of the area’s biggest commercial foreclosures of 2011 (access required)

At the end of last year, RealtyTrac, the Irvine, Calif.-based company that the media frequently rely on for foreclosure data, released its report on 2010. For those who don’t like it when foreclosures are up, it was bad news; one in every 50 homes in the Charlotte metropolitan area had foreclosure filings started against them in 2010, an increase of more than 37 percent over 2009.

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