Skip to Content

Find your next home with Luxist's "Estate of the Day"

Overrated: Charlotte, NC hit by finance crunch, crime

More
Text SizeAAA

Filed under: Home

Is Charlotte the worst city in America? Of course not, but the "Queen City" seems to have taken on a near mythical status, particularly on the East Coast, where it is portrayed as a place where home prices always go up, the job market is strong and youl have all the amenities of a major city, with none of the negatives. Riiight.

According to Forbes' Most Miserable Cities list, Charlotte (#9) has the worst ranking for violent crime of any of the cities surveyed. According to the Charlotte Observer, property crime is up 3.8 percent and violent crime is up 2.3 percent in the past year. Some citizens have even begun hiring private security to protect their neighborhoods. So that's what the HOA fees go to!

Don't miss the rest of our series on Overrated people, places and things!

One of the reasons crime may be on the rise is the weakening local economy. Three of the major employers (Wachovia, Bank of America and Lowe's) have been hurt by the credit crisis and housing crunch. While home prices have remained much stronger in Charlotte than other cities, that trend seems likely to change.

Like any Southern city, the summers are hot and humid, with an average temperature of 90 in July. But getting out of town is not as easy as it once was. While U.S. Airways uses Charlotte as a hub, the days of cheap flights are over. According to USA Today, a direct round trip flight from Charlotte to Fort Myers was recently as high as $809, while one-stop flights on other airlines were more than $500 less. Driving to the beach or the mountains isn't as cheap or easy as it once was, with rising gas prices, traffic and sprawl.

Finally, while the editor's at Southern Living noted Charlotte's "emerging" restaurant scene, some locals say there are too many chain eateries and the few local hot spots are overpriced or overrated.

In short, while Charlotte's housing prices may seem like a breath of fresh air to Yankees giving up on what the Northeast has to offer, this NASCAR-fueled boomtown may be headed for a wreck in the near future.

Subscribe to Walletpop

Reader Comments (Page 2 of 2)

Mortgage Basics

Jennifer Horn
Jennifer Horn Filed under: Food, Saving

Penny-Pinching Picnics: Summer party tips that will save you money

Summer is here and that means it is BBQ season. We all want to have a fun, stress-free backyard get-together without breaking the bank. Here are some tips to make you a BBQ bigshot. Don't buy ...
Jason Cochran
Jason Cochran Filed under: Extracurriculars, Technology, Travel

Live, from Walt Disney World, it's the Obamabot!

Disney's big new attraction this year? The same as the media's: Barack Obama. Walt Disney World in Orlando, hunkering down for the economic storm, is in the rare position of not having any major ...
Jane Tuv
Jane Tuv Filed under: Sex Sells

Ukraine outlaws possession of porn, but can't define what it is

Make love, not porn, because if you live in the Ukraine, you'll get fined and sent to jail. Tuesday, Ukrainian President Viktor Yushchenko signed a bill into law, making the possession of pornography ...
Jason Cochran
Jason Cochran Filed under: Extracurriculars, Technology, Travel

Taken for a ride: 5 clever ways theme parks bleed you for extra

Some people think it's already pretty outrageous that a one-day ticket to a single Disney park will hit you for nearly $80. But when you're budgeting for your big summer vacation, you can't assume ...

Featured Partner

What is Your Home Worth?



Headlines from WalletPop Partners