A report published Monday by Axios detailed how startup businesses in the Triangle area of North Carolina had a “rough year” in 2023, and it could fracture the lives of millions of people.
The Triangle area encompasses the cities of Raleigh, Durham and Chapel Hill in North Carolina, a hot-bed for research, innovation and academia, but the boom the region once knew might be drawing to a close, according to Axios. And with year-over-year new home sales increasing as more people move to the Triangle for work, we could be looking at a social time bomb that could destroy North Carolina socially and economically.
Throughout 2023, regional startup funding in the Triangle dropped more than 70 percent, and the amount of companies that obtained investment dropped 20 percent, suggesting a serious slow-down in local growth, Axios reported. While this slump was reportedly felt nationally, it poses a serious risk to the Triangle.
One investor told Axios that 2023 was the “hardest time to raise money since the 2008 recession,” and that should make your blood run cold.
Housing Market ‘Comeback’ Isn’t What It Appears, We’re Still In Trouble | @DailyCaller @axios gaslights readers into thinking the housing market is bouncing back … what a stupid joke https://t.co/Uky6qFL5Q2
— KAY SMYTHE (@KaySmythe) January 22, 2024
What most news outlets ignore is the housing boom taking place throughout the eastern half of North Carolina. New developments are going up on the daily to accommodate all the relocated liberals working through the region’s tech, medicine, research and academic sectors. And none of these homes are selling at their correct value.
I’ve lost count of the number of people who’ve bought properties throughout the region for $400,00 or more, with an interest rate above 5%. But none of these properties are worth $400,000. And, as of this morning, all of them have depreciated in value. This means most people who’ve bought overpriced homes with high interest rates in the last two years won’t be able to refinance in the future. (RELATED: One Thing Will Hurt The ‘Avocado Toast Generation,’ Financial Guru Says. But Is She Right?)
And if the economy keeps going the same way as the previous global financial crisis, a lot of families will be paying over $1,000,000 for homes that won’t be worth $20,000 when they go up for foreclosure. And my gut tells me that thousands, maybe tens of thousands of people will be forced into bankruptcy if the data keeps trending this way.
With California and New York having pushed so many liberals down to the Triangle to escape the chaos of their failed cities, homelessness is visibly on the rise, as is property crime, violent crime and other key indicators of social decline. Why? Because these idiots brought their voting choices with them, too stupid to realize they’re the reason they are fleeing their former homes. (RELATED: Real Estate ‘Apocalypse’ Could Destroy American Economy, Midsize Cities, WaPo Finally Realizes)
When you couple these factors with the impending housing market collapse and the obvious indicators provided by Axios of financial upheaval throughout the Triangle’s core industries, what do you think happens next?
You’ll have a massive population of people in huge amounts of unnecessary debt. You’ll see the obvious additional rise in crime and vagrancy, addiction and probably suicide. Perhaps millions of people will leave, but it’s more likely they’ll be moving back in with their parents or have to resort to government-owned housing (i.e.: stuff owned by BlackRock, State Street and Vanguard).
But it’s the real North Carolinians who will prosper. They’ve led this land for hundreds of years, some families having never left the same acres. They know how to work the land while society suffers around them. And they absolutely know how to protect it.