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Why young North Carolina entrepreneurs are buying up Boomer businesses

In North Carolina and beyond, young entrepreneurs are buying up small businesses from founders nearing retirement.

Business

Rob Belk, 35, grew up in <a class="gtmContentClick" data-vars-link-text="Charlotte" data-vars-click-url="https://www.axios.com/local/charlotte" data-vars-content-id="7a6faaac-45d5-40be-af90-2649b31e3c01" data-vars-headline="Why young North Carolina entrepreneurs are buying up Boomer businesses" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/charlotte" target="_self">Charlotte</a>, selling ladies&#x27; shoes at the SouthPark mall Belk, his family&#x27;s eponymous department store — a grind that instilled in him an entrepreneurial bug. Earlier this year, he purchased Sales Factory, a Greensboro marketing and insights agency that&#x27;s been around since 1984.Why it matters: In North Carolina and beyond, young entrepreneurs are buying up small businesses from founders nearing retirement — part of a phenomenon dubbed the &quot;<a class="gtmContentClick" data-vars-link-text="silver tsunami" data-vars-click-url="https://www.axios.com/2025/11/29/retirement-crisis-social-security-2026" data-vars-content-id="7a6faaac-45d5-40be-af90-2649b31e3c01" data-vars-headline="Why young North Carolina entrepreneurs are buying up Boomer businesses" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2025/11/29/retirement-crisis-social-security-2026" target="_self">silver tsunami</a>&quot; that&#x27;s resulting in a massive transfer of wealth.

North Carolina Democrats push for early 2028 primary

North Carolina is one of 12 states allowed to bid to be one of the first primary states in 2028.

Politics

North Carolina Democrats are lobbying to make the state one of the first presidential primary contests in 2028, arguing the state reflects the rest of the U.S., given its growing and diverse <a class="gtmContentClick" data-vars-link-text="population" data-vars-click-url="https://www.axios.com/local/raleigh/2026/01/29/north-carolina-kept-growing-last-year-despite-immigration-slowdown" data-vars-content-id="3aa3de09-b521-4564-befe-543e59dd7aa1" data-vars-headline="North Carolina Democrats push for early 2028 primary" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2026/01/29/north-carolina-kept-growing-last-year-despite-immigration-slowdown" target="_self">population</a>.Why it matters: If selected, North Carolina could hold a large influence over which candidate ultimately secures the nomination. It could also attract tens of millions of dollars of investments into statewide campaigns.

The Triangle's college grad boom

The Triangle's universities continue to power the region's growth

News

The Triangle has been one of the leading regions for adding residents with college degrees since the pandemic, a new <a class="gtmContentClick" data-vars-link-text="report" data-vars-click-url="https://www.census.gov/newsroom/press-releases/2026/acs-5-year-gains-educational-attainment.html" data-vars-content-id="49637436-34a4-46c4-b872-bb6949543d3e" data-vars-headline="The Triangle&#x27;s college grad boom" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.census.gov/newsroom/press-releases/2026/acs-5-year-gains-educational-attainment.html" target="_blank">report</a> from the U.S. Census Bureau finds. Why it matters: The Triangle has long prided itself on how much talent its universities produce, helping make the region one of the biggest areas for job growth <a class="gtmContentClick" data-vars-link-text="over the past decade" data-vars-click-url="https://www.cnbc.com/2025/08/03/the-top-10-us-cities-for-job-opportunities-and-earning-potential-according-to-new-report.html" data-vars-content-id="49637436-34a4-46c4-b872-bb6949543d3e" data-vars-headline="The Triangle&#x27;s college grad boom" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.cnbc.com/2025/08/03/the-top-10-us-cities-for-job-opportunities-and-earning-potential-according-to-new-report.html" target="_blank">over the past decade</a>.

Chapel Hill businesses still dealing with effects of tropical storm flooding

Renovations are ongoing at many businesses, while others have closed completely.

More than seven months after <a class="gtmContentClick" data-vars-link-text="Tropical Storm Chantal" data-vars-click-url="https://www.axios.com/2025/07/07/tropical-storm-chantal-north-south-carolina-flood" data-vars-content-id="1cc3490d-4976-4d4f-a3fa-bca1c4e5b2b0" data-vars-headline="Chapel Hill businesses still dealing with effects of tropical storm flooding" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2025/07/07/tropical-storm-chantal-north-south-carolina-flood" target="_self">Tropical Storm Chantal</a> significantly flooded parts of Chapel Hill, businesses at the popular Eastgate Crossing shopping center are still working to clean up the mess.Why it matters: The lingering effects of Chantal, which dumped more than 7 inches of rain in 12 hours, have shown just how damaging <a class="gtmContentClick" data-vars-link-text="fast-forming tropical storms" data-vars-click-url="https://www.axios.com/local/raleigh/2025/07/07/tropical-storm-chantal-tropical-weather-triangle-north-carolina-carrboro-chapel-hill-durham" data-vars-content-id="1cc3490d-4976-4d4f-a3fa-bca1c4e5b2b0" data-vars-headline="Chapel Hill businesses still dealing with effects of tropical storm flooding" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2025/07/07/tropical-storm-chantal-tropical-weather-triangle-north-carolina-carrboro-chapel-hill-durham" target="_self">fast-forming tropical storms</a> can be amid intensifying climate change.<ul><li>Chantal caused <a class="gtmContentClick" data-vars-link-text="more than $56 million worth of damage" data-vars-click-url="https://www.newsobserver.com/news/local/counties/orange-county/article310619555.html" data-vars-content-id="1cc3490d-4976-4d4f-a3fa-bca1c4e5b2b0" data-vars-headline="Chapel Hill businesses still dealing with effects of tropical storm flooding" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.newsobserver.com/news/local/counties/orange-county/article310619555.html" target="_blank">more than $56 million worth of damage</a> in Orange County, much of that at Eastgate Crossing. </li></ul>

North Carolina GOP lawmakers consider reducing property taxes

Property taxes fund everything from schools to public safety in North Carolina cities and counties

Some North Carolina Republicans are floating the idea of reforming and reducing property tax burdens on homeowners as part of an effort to address <a class="gtmContentClick" data-vars-link-text="housing affordability." data-vars-click-url="https://www.axios.com/local/raleigh/2026/01/07/whats-next-for-the-triangle-real-estate-market-in-2026" data-vars-content-id="0aa1070d-a5bf-4a9d-99ac-b56f16ab3f79" data-vars-headline="North Carolina GOP lawmakers consider reducing property taxes" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2026/01/07/whats-next-for-the-triangle-real-estate-market-in-2026" target="_self">housing affordability.</a>Why it matters: Property taxes help fund many of the critical functions that local governments perform, from operating public schools and paying police officers and firefighters to building sidewalks and maintaining parks. <ul><li>But after a sharp rise in home prices since 2020, growing property taxes are also a financial pressure for many homeowners and contribute to increased rents as well. </li></ul>

Find space and savings at Copper Ridge

True Homes is helping first-time buyers find quality homes — without leaving the Raleigh area.

Partners

Affordability feels increasingly out of reach for many first-time homebuyers in the Triangle. Prices are up, inventory is low and competition for starter homes is fierce.The story: True Homes wants to change that with new home communities like Copper Ridge at Flowers Plantation — a new community just outside Clayton that makes spacious, high-quality living more accessible to Raleigh-area buyers.

Transfer Co. Food Hall listed for sale

Transfer Co. Food Hall is home to tenants like Benchwarmers Bagels and Burial Beer Co.

Development

Transfer Co. Food Hall, one of downtown Raleigh&#x27;s first food halls, is up for sale, according to owner Jason Queen of Monarch Properties, who told Axios it&#x27;s time for someone else to lead the hall&#x27;s evolution.Why it matters: Since opening in 2018, the food hall has become one of downtown&#x27;s most popular gathering spots. It&#x27;s home to popular tenants like <a class="gtmContentClick" data-vars-link-text="Benchwarmers Bagels" data-vars-click-url="https://www.axios.com/local/raleigh/2024/10/07/popular-bagel-spot-benchwarmers-second-location-raleigh" data-vars-content-id="d28097e4-1464-4cae-988a-7b875dfb0f47" data-vars-headline="Transfer Co. Food Hall listed for sale" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2024/10/07/popular-bagel-spot-benchwarmers-second-location-raleigh" target="_self">Benchwarmers Bagels</a>, Alimentari at Left Bank and Burial Beer Co.

Here's who is interested in Triangle real estate listings

The leading source of views came from the D.C. suburbs.

Real Estate

Triangle counties continue to see a large influx of interest from out-of state homebuyers, according to <a class="gtmContentClick" data-vars-link-text="new data from Realtor.com" data-vars-click-url="https://www.realtor.com/research/reports/cross-market-demand/" data-vars-content-id="c8bb3a59-46a2-426b-9ddb-549155aa7bd1" data-vars-headline="Here&#x27;s who is interested in Triangle real estate listings" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.realtor.com/research/reports/cross-market-demand/" target="_blank">new data from Realtor.com</a>. Why it matters: The Triangle continues to be one of the <a class="gtmContentClick" data-vars-link-text="fastest-growing regions in the country" data-vars-click-url="https://www.axios.com/local/raleigh/2025/03/13/raleigh-durham-population-growth-census-immigrants" data-vars-content-id="c8bb3a59-46a2-426b-9ddb-549155aa7bd1" data-vars-headline="Here&#x27;s who is interested in Triangle real estate listings" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2025/03/13/raleigh-durham-population-growth-census-immigrants" target="_self">fastest-growing regions in the country</a>, and homes listed for sale in the region often attract out-of-state eyes online, according to the data.

4 mansions we think Bill Belichick should consider on his house hunt in Chapel Hill

Check out these four dreamy Chapel Hill properties fit for a coach.

Bill Belichick is just weeks from <a class="gtmContentClick" data-vars-link-text="debuting" data-vars-click-url="https://www.axios.com/local/raleigh/2025/03/13/uncs-big-money-bet-on-football-and-bill-belichick" data-vars-content-id="929ab095-ae99-4ba7-83e0-705152681fd6" data-vars-headline="4 mansions we think Bill Belichick should consider on his house hunt in Chapel Hill" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2025/03/13/uncs-big-money-bet-on-football-and-bill-belichick" target="_self">debuting</a> as UNC Chapel Hill&#x27;s <a class="gtmContentClick" data-vars-link-text="head football coach." data-vars-click-url="https://www.axios.com/local/raleigh/2024/12/11/unc-reportedly-hiring-bill-belichick-to-be-its-next-head-football-coach" data-vars-content-id="929ab095-ae99-4ba7-83e0-705152681fd6" data-vars-headline="4 mansions we think Bill Belichick should consider on his house hunt in Chapel Hill" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2024/12/11/unc-reportedly-hiring-bill-belichick-to-be-its-next-head-football-coach" target="_self">head football coach.</a>Why it matters: He&#x27;s under a five-year, <a class="gtmContentClick" data-vars-link-text="$10 million-a-year deal" data-vars-click-url="https://www.axios.com/local/raleigh/2025/03/13/uncs-big-money-bet-on-football-and-bill-belichick" data-vars-content-id="929ab095-ae99-4ba7-83e0-705152681fd6" data-vars-headline="4 mansions we think Bill Belichick should consider on his house hunt in Chapel Hill" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2025/03/13/uncs-big-money-bet-on-football-and-bill-belichick" target="_self">$10 million-a-year deal</a>, and his home pick could reveal how long he plans to stay.

📍 REALTORS® know the market — and the map

Raleigh's population is booming — and NC REALTORS® help buyers and sellers keep up.

86% of homebuyers and almost 90% of sellers worked with a real estate professional in 2023 — and with good reason.Here&#x27;s why: North Carolina REALTORS® have the local knowledge and skills you need to keep up with Raleigh&#x27;s breakneck growth.

Raleigh's wealthiest are increasingly opting out of homebuying

Close to 8% of renters in the Raleigh metro in 2023 made more than $185,000 a year, per Redfin data.

Nearly 8% of renters in the Raleigh metro in 2023 made more than $185,000 a year, up almost 3 percentage points from 2019, per a Redfin analysis of the latest Census Bureau data.Why it matters: As <a class="gtmContentClick" data-vars-link-text="homebuying" data-vars-click-url="https://www.axios.com/2025/05/19/mortgage-rate-state" data-vars-content-id="016bf7f1-f5c9-4387-ba95-260d5f9ebb5a" data-vars-headline="Raleigh&#x27;s wealthiest are increasingly opting out of homebuying" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2025/05/19/mortgage-rate-state" target="_self">homebuying</a> costs have climbed faster than rents, renting has become an attractive choice for many — even those with deep pockets.

The number of homes in Raleigh selling below asking price grows

Rising inventory is giving buyers more leverage in some parts of the country, including Raleigh.

Three springs ago, more than 70% of houses that sold in the Raleigh metro area went above asking price, as low interest rates and a surge of transplants led to bidding wars. State of play: In recent months, however, that proportion has flipped, with most homes in the area selling for below asking price, according to a <a class="gtmContentClick" data-vars-link-text="data analysis" data-vars-click-url="https://www.redfin.com/news/homes-sold-above-list-price-2025/" data-vars-content-id="b3c14414-1da0-405c-ae6f-95f0a0f60942" data-vars-headline="The number of homes in Raleigh selling below asking price grows" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.redfin.com/news/homes-sold-above-list-price-2025/" target="_blank">data analysis</a> from Redfin.

Insurance is taking up a larger portion of Raleigh homeownership costs

Raleigh homeowners' monthly payment is increasingly going toward insurance

Home insurance costs made up 8.8% of the average mortgage payment in the Raleigh metro area in December, up from 6.5% a decade earlier, data shows.Why it matters: Rising costs for <a class="gtmContentClick" data-vars-link-text="insurance" data-vars-click-url="https://www.axios.com/2024/09/20/homeowners-insurance-costs" data-vars-content-id="04040e59-6b10-40b1-ac3d-e5a5cf802e91" data-vars-headline="Insurance is taking up a larger portion of Raleigh homeownership costs" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2024/09/20/homeowners-insurance-costs" target="_self">insurance</a> and property taxes threaten to make homeownership <a class="gtmContentClick" data-vars-link-text="unaffordable" data-vars-click-url="https://www.wsj.com/economy/housing/home-insurance-property-tax-vs-mortgage-cost-43ab76ed" data-vars-content-id="04040e59-6b10-40b1-ac3d-e5a5cf802e91" data-vars-headline="Insurance is taking up a larger portion of Raleigh homeownership costs" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.wsj.com/economy/housing/home-insurance-property-tax-vs-mortgage-cost-43ab76ed" target="_blank">unaffordable</a> for many.

The number of homes for sale across the Triangle continues to grow

The number of homes for sale across the Triangle continues to increase — a trend that is bringing some relief to buyers who continue to deal with high interest rates and economic uncertainty.

The number of homes for sale across the Triangle continues to increase — bringing some relief to buyers navigating high interest rates and economic uncertainty. Why it matters: Inventory of for-sale homes across Wake, Durham, Orange, Johnston and Chatham counties has grown by nearly 30% over the past year, according to data collected by <a class="gtmContentClick" data-vars-link-text="Doorify MLS" data-vars-click-url="https://doorifymls.com/" data-vars-content-id="93d2dcc1-0aa8-45b1-a4df-59f335410fe3" data-vars-headline="The number of homes for sale across the Triangle continues to grow" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://doorifymls.com/" target="_blank">Doorify MLS</a>.

Real Estate 🏠

North Carolina GOP lawmakers consider reducing property taxes

North Carolina's most popular Zillow listing

Find space and savings at Copper Ridge

Transfer Co. Food Hall listed for sale

Here's who is interested in Triangle real estate listings