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Old 08-02-2019, 12:44 PM
 
2,244 posts, read 883,498 times
Reputation: 1752

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Quote:
Originally Posted by toll_booth View Post
Yes they have. The middle class has been priced out of a lot of big cities. Suburbs have soaked up much of that growth here, but gentrification and a lack of affordable housing is hitting the city of Atlanta too.
Thing is while Atlanta was known for affordability, greed exists nationwide. So if investors or politicians see demand to live in an area they will do whatever they can to absorb the most cashflow from that influx. People from much more expensive metros for example are grabbing homes up that they wouldn't otherwise beable to afford where they came from...while at first this sounds good, it results in a housing shortage for the locals who do not have the same equity ... For example you sell a home in Los Angeles you walk away with $800k or more. move to a southern metro and grab atleast 2 homes, live in 1, invest and lease out the others...instant cash flow... If however you were local to Atlanta and sell your home in Atlanta and you aren't getting in another one without more money to go with your trade because the increase of values... you might walk away even but it depends. So even though Atlanta is not as large as the metros such as Los Angeles, San Francisco, NYC, Chicago, ect... Housing is filling up faster than it can be replenished thus causing an artificial shortage and pushing other potential buyers into rentals or apartments because they cannot afford to buy.
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Old 08-02-2019, 12:47 PM
 
Location: Georgia
5,276 posts, read 4,317,487 times
Reputation: 3040
Quote:
Originally Posted by Need4Camaro View Post
Thing is while Atlanta was known for affordability, greed exists nationwide. So if investors or politicians see demand to live in an area they will do whatever they can to absorb the most cashflow from that influx. People from much more expensive metros for example are grabbing homes up that they wouldn't otherwise beable to afford where they came from...while at first this sounds good, it results in a housing shortage for the locals who do not have the same equity ... For example you sell a home in Los Angeles you walk away with $800k or more. move to a southern metro and grab atleast 2 homes, live in 1, invest and lease out the others...instant cash flow... If however you were local to Atlanta and sell your home in Atlanta and you aren't getting in another one without more money to go with your trade because the increase of values... you might walk away even but it depends. So even though Atlanta is not as large as the metros such as Los Angeles, San Francisco, NYC, Chicago, ect... Housing is filling up faster than it can be replenished thus causing an artificial shortage and pushing other potential buyers into rentals or apartments because they cannot afford to buy.
Remember all the Illinois license plates that were around metro Atlanta a few years ago? To them our real estate is cheap. So they could snap up homes that were twice the size for the same cost.

Not complaining at them, just echoing what you said.
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Old 08-02-2019, 12:54 PM
 
288 posts, read 172,423 times
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Quote:
Originally Posted by toll_booth View Post
Remember all the Illinois license plates that were around metro Atlanta a few years ago? To them our real estate is cheap. So they could snap up homes that were twice the size for the same cost.

Not complaining at them, just echoing what you said.
Yes, I think those days are coming to end though. Now, someone has to be from NYC or LA to afford two homes here for the price of one, at least in the nicer parts of the Atlanta metro area..
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Old 08-02-2019, 01:14 PM
 
Location: Atlanta, Birmingham, Charlotte, and Raleigh
2,539 posts, read 1,643,935 times
Reputation: 1564
Tier 2 cities are just going to grow and gain lack of affordability from this instead. It's capitalism at its best and worst.
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Old 08-02-2019, 06:10 PM
 
2,244 posts, read 883,498 times
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Quote:
Originally Posted by NorthAtlanta View Post
Yes, I think those days are coming to end though. Now, someone has to be from NYC or LA to afford two homes here for the price of one, at least in the nicer parts of the Atlanta metro area..
Yeah TBH there isnt much a price difference between living in someplace like Alpharetta, Johns Creek, Milton and even Peachtree Corners as to say Naperville or Buffalo Grove suburbs in Chicago.

NYC and its afluent suburbs however are still a good bit higher however.
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Old 08-04-2019, 04:25 PM
 
Location: 30080
2,234 posts, read 3,546,926 times
Reputation: 1672
It's much worse for renters. Last I looked Atlanta was #1 or #2 for fasting rising rent. For some reason people celebrate this. Yea, it's cool if you already own but if you don't or if you rent it's absolutely terrible. We're going to end up being another over priced metro area like LA, DC or NYC.
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Old 08-04-2019, 07:11 PM
 
Location: North Atlanta
5,474 posts, read 3,865,819 times
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Quote:
Originally Posted by brownhornet View Post
It's much worse for renters. Last I looked Atlanta was #1 or #2 for fasting rising rent. For some reason people celebrate this. Yea, it's cool if you already own but if you don't or if you rent it's absolutely terrible. We're going to end up being another over priced metro area like LA, DC or NYC.

What's your solution then?
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Old 08-04-2019, 08:00 PM
 
2,064 posts, read 2,259,728 times
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We have lots of room left for infill

Accelerate the gentrification of areas south and west of the city - better pay for teachers and police, incentives and bonuses to live in these areas, better schools will bring more investment and housing options
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Old 08-04-2019, 08:09 PM
 
2,244 posts, read 883,498 times
Reputation: 1752
Quote:
Originally Posted by Gulch View Post
What's your solution then?
Unfortunately there is no easy solution but I have heard that our government has alot to do with it due to the restriction of building denser communities where they are needed thus pushing the existing dense communities in higher demand and escalating their prices. Low density developments can only sprawl so far before they become too inaccessible from job locations or they plainly run out of land. Those developments also face developmental restrictions, but not as much as dense development. In a sense so much has to be approved before new housing developments can go up that they literally cannot keep up with demand therefor creating artificial shortages.
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Old Yesterday, 12:47 AM
 
3,699 posts, read 1,259,779 times
Reputation: 2449
Quote:
Originally Posted by Gulch View Post
What's your solution then?
The problem isn't a lack of solutions, but a lack of will power to implement them.
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