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Old 04-02-2018, 08:04 AM
 
Location: Vinings/Cumberland in the evil county of Cobb
1,255 posts, read 1,106,062 times
Reputation: 1375

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Intown rent prices are climbing, even as the city’s rental housing stock burgeons




https://atlanta.curbed.com/2018/4/2/...gs-prices-jump
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Old 04-02-2018, 10:46 AM
 
Location: Kirkwood
22,147 posts, read 16,140,747 times
Reputation: 4894
So much for all those fears of oversupply of intown apartments.
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Old 04-02-2018, 10:58 AM
 
320 posts, read 155,663 times
Reputation: 404
Atlanta is in top demand apparently!
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Old 04-02-2018, 11:14 AM
 
Location: Historic West End
3,947 posts, read 3,249,793 times
Reputation: 3764
Great news! I hope this warrants a supertower coming in the near future.
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Old 04-02-2018, 11:25 AM
 
7,687 posts, read 9,527,345 times
Reputation: 5657
This is one of the key reasons I bought.

Home ownership is a pain sometimes, and I won't say I don't get the appeal of renting.....but it's also nice to know that my mortgage can't jump 70% in on year. It stays exactly the same, and property taxes move up at a much slower pace.

I was sick of giving my yearly salary increases (and then some) to rent increases, you feel like you can never get ahead.
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Old 04-02-2018, 11:28 AM
 
1,808 posts, read 1,547,624 times
Reputation: 1626
Quote:
Originally Posted by cqholt View Post
So much for all those fears of oversupply of intown apartments.
Check out the stats for midtown and Buckhead:

Quote:
Key Findings — Midtown

The median rent in Midtown is $1,835, up 2.4 percent from a year ago.
Median 1-bedroom rents are $1,612, up 1.5 percent year-over-year.
Rental inventory in Midtown on HotPads is up 172.8 percent from a year ago.
Key Findings — North Buckhead

The median rent in North Buckhead is $2,428, up 1.7 percent from a year ago.
Median 1-bedroom rents are $1,608, down 1.7 percent from a year ago.
Rental inventory in North Buckhead on HotPads is up 153.2 percent from a year ago.
Inventory is way up, but rents are stagnating. There is more inventory in the pipeline.
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Old 04-02-2018, 11:55 AM
 
Location: Prescott, AZ
5,401 posts, read 2,726,205 times
Reputation: 2159
Quote:
Originally Posted by brown_dog_us View Post
Check out the stats for midtown and Buckhead:

Inventory is way up, but rents are stagnating. There is more inventory in the pipeline.
Which is great for those specific sub-markets, but the city as a whole is seeing higher increases, meaning that there's still wider need for more housing.

Also, hey look, supply and demand does work! Who'd'a thunk it?
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Old 04-02-2018, 12:28 PM
 
Location: Lindbergh, Atlanta
697 posts, read 319,237 times
Reputation: 790
Atlantans may have no choice but to rent.

Quote:
The sales center is closed for the foreseeable future.

Emerson Buckhead broke ground late-2017 as one of only a few forthcoming condo developments in Atlanta among a sea of new apartments.

The 19-story tower, at 2520 Peachtree Road, was set to replace a 3-level, 47-unit residential building originally completed in 1955.

JPX acquired the existing units and 1.84-acre site in November 2015 and opened a sales gallery for the new residences at ADAC West in August 2016.

It's unclear why the glitzy high-rise won't be developed as planned, but the news doesn't fare well for similar projects like No2 Opus Place—the ultra-lux condo tower set to go vertical in Midtown.
https://whatnowatlanta.com/emerson-b...roject-stalls/
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Old 04-02-2018, 01:00 PM
 
28,101 posts, read 24,632,008 times
Reputation: 9523
Quote:
Originally Posted by glovenyc View Post
Intown rent prices are climbing, even as the city’s rental housing stock burgeons

https://atlanta.curbed.com/2018/4/2/...gs-prices-jump
So even though supply has exploded, affordability is worse than ever?

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Old 04-02-2018, 01:06 PM
 
Location: Tennessee
20,947 posts, read 15,267,317 times
Reputation: 23722
Many developers are not seeing a need to develop for the average rental market. It just isn't as profitable.
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