Atlanta with highest inflation in US over last 12 months at 9.8% (Sandy Springs: renting, new house)

[bellhead]

https://www.wsj.com/articles/inflati...ics_lead_pos10

The Atlanta-Sandy Springs-Roswell area saw the highest inflation among metropolitan areas with more than 2.5 million people—9.8% for the 12 months through December.

I think we have all seen this first hand.

[dtyfygiu]

Meanwhile wages remain flat. Atlanta is no longer affordable smh

[JMatl]

Originally Posted by dtyfygiu

Meanwhile wages remain flat. Atlanta is no longer affordable smh

Wrong. Just about everyone I know has had a raise lately, it's an employee market for a change. People that switch jobs are getting sign-on bonuses. Wages are not flat.

[Thulsa]

Here's the source data.
https://www.bls.gov/regions/southeas...ex_atlanta.htm
Here is the weighting. Look at these things and consider what doesn't affect you and how it's weighted.
https://www.bls.gov/cpi/tables/relat...tance/2021.htm

Notice that housing is 40% of the weighting. It is thought that the increase in housing is largely due in the influx of people from other high-cost areas moving to Georgia. They sell their New York million dollar bungalow and buy what would be a $500K house here for $600K, and it's a good deal for them.

This doesn't affect me that much, and I bet it doesn't affect most of us.
Like most people in Atlanta, I own my house and I'm not about to buy a new one. And, because I live here, even if I did buy a new house the increase in the new house price is matched by the increase in my existing house price.
However, people who are renting are getting hurt, and in many cases hurt badly.

I'm not about to buy a car either. I can wait for things to settle down.

I have noticed that my once-a-week grocery bill has increased. It seems the store I go to has greatly decreased the number and amount of specials and bogo offers. But a 10% increase in grocery costs is only a 1% increase in my overall spending.

[seussie]

We'll get through it; those who struggle will have even greater hardship. This happens, and some can be more prepared than others. Maybe American consumers will understand the value of their purchasing power more, like in Japan, where we simply refuse to buy something beyond the cost we expect. Oh wait, nope, won't happen here. We're not culturally minded en masse.

[ShenardL]

Originally Posted by dtyfygiu

Meanwhile wages remain flat. Atlanta is no longer affordable smh

Compared to people in New York, San Francisco, it's still very affordable. For people in the midwest looking to move to the sunbelt though, Atlanta is starting to be out of their budget but so are many other cities like Dallas, Houston, etc.

[Citykid3785]

Originally Posted by JMatl

Wrong. Just about everyone I know has had a raise lately, it's an employee market for a change. People that switch jobs are getting sign-on bonuses. Wages are not flat.

Agreed. This matches my own personal experience. I'm also convinced if money was all that's important to me (it's not), I could pick up the phone and get ANOTHER pay raise. It's just the market now.

[FromGA]

At the very least, I think so called progressive ideas like Universal Basic Income (distributed to everyone) will have a tough time making a comeback. Once interest rates start going up, Modern Monetary Theory (print as much as desired) will hopefully not be considered a formula for stability.

[walker1962]

Originally Posted by Thulsa

Here's the source data.
https://www.bls.gov/regions/southeas...ex_atlanta.htm
Here is the weighting. Look at these things and consider what doesn't affect you and how it's weighted.
https://www.bls.gov/cpi/tables/relat...tance/2021.htm

Notice that housing is 40% of the weighting. It is thought that the increase in housing is largely due in the influx of people from other high-cost areas moving to Georgia. They sell their New York million dollar bungalow and buy what would be a $500K house here for $600K, and it's a good deal for them.

This doesn't affect me that much, and I bet it doesn't affect most of us.
Like most people in Atlanta, I own my house and I'm not about to buy a new one. And, because I live here, even if I did buy a new house the increase in the new house price is matched by the increase in my existing house price.
However, people who are renting are getting hurt, and in many cases hurt badly.

I'm not about to buy a car either. I can wait for things to settle down.

I have noticed that my once-a-week grocery bill has increased. It seems the store I go to has greatly decreased the number and amount of specials and bogo offers. But a 10% increase in grocery costs is only a 1% increase in my overall spending.

There is a lot of truth to what you say but even homeowners who are looking to sell can incur some costs increases due to increased valuations which raise property taxes. Just generally speaking.

[Thulsa]

Originally Posted by walker1962

There is a lot of truth to what you say but even homeowners who are looking to sell can incur some costs increases due to increased valuations which raise property taxes. Just generally speaking.

That's a good point.
Now that you mention the taxes increase, inflation will probably show up in maintenance such as paint, roofing, and general repairs.