Decline in Atlanta home prices worst in recorded history (Sandy Springs: short sale, foreclosed)

[Stars&StripesForever]

Originally Posted by lastminutemom

Thirty or 40 minutes from downtown in rush hour is maybe Dunwoody, Sandy Springs, parts of East Cobb, P'tree City, Conyers etc.

It isn't Braselton, Dawsonville, etc.

No one was suggesting Braselton or Dawsonville, rather Canton or Milton. Of course, Braselton or Dawsonville are farther out, closer to 50 minutes-1 hour.

[GeorgiaLakeSearch]

Originally Posted by lastminutemom

Thirty or 40 minutes from downtown in rush hour is maybe Dunwoody, Sandy Springs, parts of East Cobb, P'tree City, Conyers etc.

It isn't Braselton, Dawsonville, etc.

I agree another poster said Braselton is 50 minutes to one hour from downtown. When at 2 am? Speeding? I-85 during rush hour is not nice.

[Stars&StripesForever]

Originally Posted by GeorgiaLakeSearch

I agree another poster said Braselton is 50 minutes to one hour from downtown. When at 2 am? Speeding? I-85 during rush hour is not nice.

If not during rush hour, that is what it takes to get to Braselton. Only during rush hours is one unable to make it in that time frame.

[toll_booth]

Originally Posted by Gnutella

It's probably all the exurban **** losing half its value that's dragging Atlanta's numbers down. Draw a line connecting the following suburbs:

Kennesaw > Alpharetta > Suwanee > Lawrenceville > Snellville > Lithonia > Stockbridge > Jonesboro > Riverdale > Austell > Kennesaw

Everything inside that line is probably holding its value much better than anything outside it. Not necessarily saying that prices are rising inside that line, just that houses currently on the market outside it are mostly worthless at this point.

I'm sure that exurbs have taken a disproportionate hit, but by far the worst has been in the inner-city, impoverished areas of town--precisely the areas that could least afford it.

Locally and nationally, this economy is not going to heal until the housing market does.

[athensvaasi]

Originally Posted by toll_booth

I'm sure that exurbs have taken a disproportionate hit, but by far the worst has been in the inner-city, impoverished areas of town--precisely the areas that could least afford it.

Locally and nationally, this economy is not going to heal until the housing market does.

And the housing market will heal if there is something worthwhile going on in the regional/national/... economy.

Housing is a reflection of the economy.

Sort of circular logic, but the general modd/economy comes first. Housing follows. Not the other way around.

[toll_booth]

Originally Posted by athensvaasi

And the housing market will heal if there is something worthwhile going on in the regional/national/... economy.

Housing is a reflection of the economy.

Sort of circular logic, but the general modd/economy comes first. Housing follows. Not the other way around.

It's a little different this time. The collapse in the housing market was THE trigger of the recession. Its failure to recover is a key reason why this economy is recovering so slowly.

[athensvaasi]

Originally Posted by toll_booth

It's a little different this time. The collapse in the housing market was THE trigger of the recession. Its failure to recover is a key reason why this economy is recovering so slowly.

Hmmm, that makes sense.

But - if the 2000s was kind of booming mainly due to a housing prices that were disconnected from the real economy,

then the parts of the regional or national economy that did not add anything substantial since (say) year 2000 will wind back to (say) year 2000 home prices to reflect the true strength of the economy.

My point (more than anything else) is that home prices will not be disconnected from the real economy, in good times or bad. They always seem to overshoot on either side, though. Housing cannot be an economy creator on its own. (and if it does in any economy, sooner or later that economy is going to feel that bust).

(I am just an arm chair economist, I am sure it shows!)

[FlyingFox]

There's nothing wrong with the housing market right now. It has snapped back to reality and people are still in shock. Homes are selling, albeit at prices below bubble-expectations. Even foreclosures aren't a problem; they are simply a less-pleasant way of snapping prices back to pre-bubble.

The problem was 2002 - 2008; a huge bubble was created by a collusion of greedy banks, real estate agents, and home appraisers. If you're living in a 2002-2008 mindset, then yes, today's housing market is a serious problem.

[10 feet tall]

Agree somewhat. The problem is that during the last decade economic growth was due almost entirely to housing and it masked the fact that there were troubles elsewhere in the economy. Now that there is a housing market "reset" we are seeing that the underlying economy was not healthy at all.

[JoeP]

There's nothing wrong with the housing market right now

No, there's a lot wrong with the housing market right now. Not everybody bought during the bubble or in bubble related areas.

However, most everybody's value has dropped massively and won't move forward with foreclosures and short sales all over the place.