Midtown's YOO apartments on the Park is actually successfully renting out their $6k/mo apartments

[Stormhammer]

Originally Posted by flamadiddle

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...

I thought you were kidding but nope. Then I looked at the area....

Hickory Flat area is a hot area for the north metro area to move to.

However, that price for a ranch on a basement is just all sorts of stupid for a new build.

Dogwood w/Basement - Hickory Manor by Lennar | Zillow

However, there is the issue that ranch homes require a bigger piece of property due to their footprint, so that may be where the price difference comes into play.

109 American Pharoah Way, Canton, GA 30115 | Zillow another ranch in the same area - however, it has a decently sized yard too.

As opposed to this about a mile down the road

Abbeyville - Woodhaven Court by Pulte Homes | Zillow

Where you can pee on your neighbors from your window if you should feel so inclined.

[cqholt]

Standing 25 posh stories, the finished tower up the street from Piedmont Park is offering some units for more than $3 per square foot—a benchmark once thought impossible in Atlanta. (For example: a 540-square-foot studio for $1,630). Even higher, most of the penthouse apartments have already rented for nearly $6,000 per month

http://atlanta.curbed.com/2017/3/22/...oo-on-the-park

[AnsleyPark]

Rent of $6,000 per month. Mercy me.

[tikigod311]

get out of here yoo, stop making the market suck more than it does

[jhtrico1850]

This is good for Atlanta. If/when the market crashes, we'll have really high quality apartments near Piedmont Park for cheap

[Gulch]

Originally Posted by tikigod311

get out of here yoo, stop making the market suck more than it does

More supply is a bad thing? Or did you actually expect the 1 bedrooms to be $800/month?

[tikigod311]

offering some units for more than $3 per square foot—a benchmark once thought impossible in Atlanta.

Yeah, that's exactly the type of supply we don't need

[cqholt]

Originally Posted by Gulch

More supply is a bad thing? Or did you actually expect the 1 bedrooms to be $800/month?

Older, affordable apartments ($779/1 bedroom) are falling to newer, expensive ($1400/studio) in Morningside.
http://atlanta.curbed.com/2017/3/23/...orningside-new

[Pemgin]

Cities where no one wants to live are cheap. I understand the frustration that less expensive options are getting harder to find, but this is the direction Atlanta is heading in if it remains a desirable place to live, which I think we all want.

[goillini8]

Originally Posted by Pemgin

Cities where no one wants to live are cheap. I understand the frustration that less expensive options are getting harder to find, but this is the direction Atlanta is heading in if it remains a desirable place to live, which I think we all want.

Very true -- it's indicative of a robust, healthy city. And, the unfortunate side effect is loss of less expensive options. Yet, people will come and people will pay, because there's opportunities in ATL. If the market can't sustain the high rents, they'll decrease accordingly. But, until then, I'd only expect to see more increases.