U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Georgia > Atlanta
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 12-09-2016, 11:36 AM
 
3,209 posts, read 4,518,676 times
Reputation: 1732

Advertisements

Just embrace the thousands upon thousands of new units being proposed, constructed, and delivered if you're mad about rent being so high. The higher end markets they push for, the better. Competition WILL set in and the market will eventually find its limit. Developers will have to learn how to serve the $1,000-$1,500 market at a profit.

The worst thing we can try to do is rent control, affordable housing requirements, etc. All this stuff does is constrain supply and drives up rent even faster.

We're just a metro area grappling with the fact that, among other trends, intown living has become more desirable and commands a premium. If just a small percentage of suburban metro Atlanta--5%, a quarter million people--gets it in their heads that they wanna live in town suddenly, intown housing suddenly becomes outrageously prime and rents climb quickly. We have to let the market accommodate this shift as quickly as we possibly can.
Reply With Quote Quick reply to this message

 
Old 12-09-2016, 11:44 AM
 
1,827 posts, read 1,567,008 times
Reputation: 1643
Quote:
Originally Posted by testa50 View Post
If just a small percentage of suburban metro Atlanta--5%, a quarter million people--gets it in their heads that they wanna live in town suddenly, intown housing suddenly becomes outrageously prime and rents climb quickly.
And if the same number of Atlanta renters decide to move out of Atlanta? Basically, it's not going to take a lot to crash ATL's rental market.
Reply With Quote Quick reply to this message
 
Old 12-09-2016, 12:43 PM
 
Location: NW Atlanta
5,009 posts, read 3,497,549 times
Reputation: 2653
Quote:
Originally Posted by brown_dog_us View Post
And if the same number of Atlanta renters decide to move out of Atlanta? Basically, it's not going to take a lot to crash ATL's rental market.
The city losing 250,000 residents (there probably isn't even that many renters) suddenly would crash the city as a whole.
Reply With Quote Quick reply to this message
 
Old 12-09-2016, 12:43 PM
 
3,209 posts, read 4,518,676 times
Reputation: 1732
Quote:
Originally Posted by brown_dog_us View Post
And if the same number of Atlanta renters decide to move out of Atlanta? Basically, it's not going to take a lot to crash ATL's rental market.
Yep. If current trends suddenly reverse themselves and White Flight 2.0 happens for some unknown reason then intown Atlanta will be hurting.
Reply With Quote Quick reply to this message
 
Old 12-10-2016, 06:47 AM
 
Location: Historic West End
3,993 posts, read 3,283,468 times
Reputation: 3793
Quote:
Originally Posted by testa50 View Post
Yep. If current trends suddenly reverse themselves and White Flight 2.0 happens for some unknown reason then intown Atlanta will be hurting.
This area is not like the 1960's and depends on white residents along. You have different age groups and cultures moving to Midtown and technology job growth is leading the way unlike the original white flight that depends on one culture. Atlanta has graduated and moved beyond that point.
Reply With Quote Quick reply to this message
 
Old 12-10-2016, 06:57 AM
VJP
 
Location: Decatur, GA
637 posts, read 1,402,293 times
Reputation: 461
Quote:
Originally Posted by tikigod311 View Post
Appreciate the insight but none of this is worth a 6k apartment.

If someone opts to stay in a 6k a month apartment in Atlanta at the expense of saving they are an idiot. That's not subjective, straight up idiot. So even w/ a 240k salary, you can't afford Yoo on the Park.

Again, I get that there is housing meant for folks making WAY over 240k. I am just surprised there is this much of a market for these luxury apartment/condos. I hope this is developers overestimating the market and there is a significant correction. The affordability aspect of Atlanta is becoming a joke
I left out corporations renting apartments for transplant executives and visiting customers, and recent transplants who make way more than 240k who want to live somewhere before buying. Also 240k is a minimum, around 1 percent of households have an annual income above 410k (2010 data). In short, there's a market for these apartments, despite what you're wishing.
Reply With Quote Quick reply to this message
 
Old 12-13-2016, 10:04 PM
 
767 posts, read 414,539 times
Reputation: 526
Quote:
Originally Posted by Ant131531 View Post
One thing I'll say about this current apartment boom is that a lot of people have a lot more money than I thought in Atlanta. That being said, the people renting this space should definitely be looking at the new 98 14th street building that's about to start pre-sales. Why would you rent for this much when you can own a 1 million dollar condo that will probably be better.

You would rent because the Condo costs likely don't include HOA fees whereas the apartment includes common area maintenance.
Reply With Quote Quick reply to this message
 
Old 12-14-2016, 08:47 AM
 
Location: Johns Creek area
9,585 posts, read 8,666,245 times
Reputation: 5087
Quote:
Originally Posted by tikigod311 View Post
Appreciate the insight but none of this is worth a 6k apartment.

If someone opts to stay in a 6k a month apartment in Atlanta at the expense of saving they are an idiot. That's not subjective, straight up idiot. So even w/ a 240k salary, you can't afford Yoo on the Park.

Again, I get that there is housing meant for folks making WAY over 240k. I am just surprised there is this much of a market for these luxury apartment/condos. I hope this is developers overestimating the market and there is a significant correction. The affordability aspect of Atlanta is becoming a joke
Spot on - particularly the thoughts about savings.
Reply With Quote Quick reply to this message
 
Old 12-14-2016, 09:35 PM
 
453 posts, read 656,399 times
Reputation: 312
Quote:
Originally Posted by tikigod311 View Post
Appreciate the insight but none of this is worth a 6k apartment.

If someone opts to stay in a 6k a month apartment in Atlanta at the expense of saving they are an idiot. That's not subjective, straight up idiot. So even w/ a 240k salary, you can't afford Yoo on the Park.

Again, I get that there is housing meant for folks making WAY over 240k. I am just surprised there is this much of a market for these luxury apartment/condos. I hope this is developers overestimating the market and there is a significant correction. The affordability aspect of Atlanta is becoming a joke
You are really out of touch on earnings. I know plenty of couples in Atlanta making 500k plus a year who have no interest in getting bogged down with mortgages, maintenance and other long term commitments. It is easy for them to pay 5k a month rent and still save 10k plus a month after expenses.

Also remember its not uncommon to pay 10k a month in NYC so people getting a transfer on the same (or slightly less) salary are really banking.
Reply With Quote Quick reply to this message
 
Old 12-15-2016, 08:05 AM
 
Location: Sweet Home Chicago!
4,731 posts, read 3,251,774 times
Reputation: 5169
One could always move way out to Canton and pay $430K for this >

https://www.redfin.com/GA/Canton/430...0xMTIzODkwNTU=

I still get local real estate alerts and was kinda shocked at this one. A nice, but very small home in Canton on a small lot for $430K? wow...
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2016 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Georgia > Atlanta
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top