Atlanta now leads all major US metros in inflation (Columbus: house, neighborhoods)

[Born 2 Roll]

International business media outlet Bloomberg has posted an article about how the economic boom that the Atlanta region is continuing to experience currently has Atlanta posting faster price increases than any other major metropolitan area in the country.

The city’s annual rate soared to 7.9% in October, well above the 6.2% nationwide average. Gunn says that her business contacts, big and small, in industries from retail to manufacturing and construction, are all seeing price gains across the board...

... It’s an awkward position for Atlanta, which historically has lured workers with its mix of a robust economy and low cost of living. Although the city hasn’t yet caught up to pricier metros in the Northeast and out West, it’s rapidly losing its status as a cheaper alternative.

Booming Atlanta Becomes Epicenter of U.S. Inflation Surge (Bloomberg/MSN Money)

[Born 2 Roll]

ATLANTA — The national average inflation for the U.S. has hit 6.2%. Atlanta, however, has dwarfed that statistic and now leads the nation's major cities in price hikes...

... Atlanta's inflation rose in October 2021 by an even higher 7.9% from a year ago, according to data from the Bureau of Labor Statistics. The Bureau of Labor Statistics' data, however, does not list every major city within the U.S. Other major cities may theoretically find themselves on the organization's future data spreads at even higher inflation rates than the Peach State's capital.

While Atlanta's inflation is staggering compared to the national average, it also dominates other major cities such as San Francisco's 3.8% and New York's 4.3% increases.

Atlanta sees largest price hike among major U.S. cities - The U.S. average 6.2% inflation is a notable price hike. But, it is Atlanta that leads the nation's major cities when it comes to increased costs. (11Alive News)

[flamadiddle]

Certainly true with home prices down there. Interesting that Debt is also up significantly. Wish I had a crystal ball to understand where this is all headed.

[jeoff]

Well, that’s the other side of all these new businesses coming in—for a lot of folks—maybe even most folks— it probably doesn’t help the quality of life and may hurt it —folks are competing against more and more people for land and access to services. It’s not just the poor that are priced out—in the 90s, beginning teacher couples could find a home in Candler Park, now university professors and mid-level CDC scientists are priced out. Really once you get to the point that your local economy is very diversified, do additional businesses help that much? They bring in more folks looking for jobs from other states, this surely results in more revenue, but that money is spent on more infrastructure. I know some folks are helped, but for current residents, are there more that are hurt?

[Born 2 Roll]

Originally Posted by jeoff

Well, that’s the other side of all these new businesses coming in—for a lot of folks—maybe even most folks— it probably doesn’t help the quality of life and may hurt it —folks are competing against more and more people for land and access to services. It’s not just the poor that are priced out—in the 90s, beginning teacher couples could find a home in Candler Park, now university professors and mid-level CDC scientists are priced out. Really once you get to the point that your local economy is very diversified, do additional businesses help that much? They bring in more folks looking for jobs from other states, this surely results in more revenue, but that money is spent on more infrastructure. I know some folks are helped, but for current residents, are there more that are hurt?

Yeah, especially with the news that tech behemoth Microsoft is building a massive East Coast headquarters campus here, it’s basically the ‘Seattle-ization’ of Atlanta, with rising living costs (particularly rising housing costs) pricing many existing lower and middle income residents out of many previously affordable Intown neighborhoods.

[ShenardL]

Yeah, Atlanta is no longer cheap... housing especially. At the grocery, I'm paying around $20-$30 more for my bill than I used to for the same items. At my favorite Korean BBQ restaurant, the marinated galbi (short beef ribs) used to be $29, now it's around $45.

[ArmyBrat619]

The Big Nasty is still very cheap. It's the one redeeming quality of living here. You can actually buy a 3 br 2 ba house for under $100,000

[aries4118]

]

Originally Posted by Born 2 Roll

...
Booming Atlanta Becomes Epicenter of U.S. Inflation Surge (Bloomberg/MSN Money)

From the article:

"The Atlanta market is extremely good," Moody said. "With so many people working remotely these days, they have found Atlanta to be a great place to live."

[neil0311]

But let's print money and borrow, then spend trillions more. I won't cost us anything! Inflation will go down! Come on man!

[columbusboy8]

Originally Posted by aries4118

]


From the article:

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