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Old 10-17-2012, 09:43 PM
 
Location: ATL
4,688 posts, read 8,023,785 times
Reputation: 1804

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Atlanta No. 2 most affordable housing market | The Biz Beat

Metro Atlanta hasn’t been the greatest place in the country to own a home, as everyone with a devalued house in these parts knows. There is some good news, relatively speaking, though.It doesn’t cost that much to buy here.Atlanta ranks second in the U.S. among the top 25 metro areas in terms of home affordability, new research from Interest.com, a Bankrate company, shows. The median household income in the Atlanta area exceeds the income required to purchase a median-priced home here by 40 percent. That’s better than every other big market except for Detroit, where it’s 45.32 percent.

The rest of the top five most affordable metro areas are Minneapolis, Phoenix and St. Louis. Of course, Detroit is hardly the symbol of economic success, and Phoenix has had major housing issues.The least affordable markets: San Francisco, New York, San Diego, Miami and Los Angeles.

Come here to live the American dream. The haters will be
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Old 10-18-2012, 09:50 AM
 
Location: Atlanta
738 posts, read 1,378,170 times
Reputation: 332
It's true. Now that the market has equalized, Atlanta homes for purchase are really affordable in comparison with wages. The rental market is not quite as affordable but it's not bad compared with other cities. Wow...this may be the first time I've agreed with tonygeorgia

I have recently considered a move to NYC or Boston, but the cost of living -- especially housing -- is insane. I'd have to get a major salary increase (or live in a shoebox, or both) to make that work.
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Old 10-18-2012, 09:56 AM
 
1,250 posts, read 1,886,200 times
Reputation: 411
Rents are getting stupid high. You sprawl lovers need to buy some homes.
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Old 10-19-2012, 10:22 AM
 
449 posts, read 1,176,423 times
Reputation: 223
I hate that so many homeowners were foreclosed or or had their property values decline, but the lower housing market has helped me tremendously.

Gonna buy my second property in Atl soon. Hopefully a third within the next year or two
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Old 10-19-2012, 10:50 AM
 
Location: ๏̯͡๏﴿ Gwinnett-That's a Civil Matter-County
2,118 posts, read 6,379,057 times
Reputation: 3547
Yep they can't give the homes away.

Quote:
Originally Posted by tonygeorgia View Post
Come here to live the American dream. The haters will be
It's a dream to buy but a nightmare to sell.
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Old 10-19-2012, 11:02 AM
 
Location: Ono Island, Orange Beach, AL
10,743 posts, read 13,394,956 times
Reputation: 7183
Quote:
Originally Posted by cittic10 View Post
Yep they can't give the homes away.


It's a dream to buy but a nightmare to sell.
It's according to where your house is located. Difficult to sell in many of the suburbs? yes. Difficult to sell in the older intown neighborhoods? nope.
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Old 10-19-2012, 11:11 AM
 
10,974 posts, read 10,881,248 times
Reputation: 3435
Quote:
Originally Posted by cittic10 View Post
Yep they can't give the homes away.


It's a dream to buy but a nightmare to sell.
Actually, it depends on the neighborhood. I just closed on a property last week in an in-town neighborhood. I put my first offer in on a place back in March and have put probably 10 different offers in, basically all going into bidding wars, before finally winning out on this one. Now, even though I got it basically at asking price I still think it is an amazing deal and far cheaper than other major cities I have looked at.
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Old 10-19-2012, 01:08 PM
 
Location: ๏̯͡๏﴿ Gwinnett-That's a Civil Matter-County
2,118 posts, read 6,379,057 times
Reputation: 3547
Quote:
Originally Posted by AnsleyPark View Post
It's according to where your house is located. Difficult to sell in many of the suburbs? yes. Difficult to sell in the older intown neighborhoods? nope.
OK good so for you it will be a "dream" to sell but a "nightmare" to buy.

Quote:
Originally Posted by jsvh View Post
Actually, it depends on the neighborhood. I just closed on a property last week in an in-town neighborhood. I put my first offer in on a place back in March and have put probably 10 different offers in, basically all going into bidding wars, before finally winning out on this one. Now, even though I got it basically at asking price I still think it is an amazing deal and far cheaper than other major cities I have looked at.
OK good so for you it will be a "dream" to sell but a "nightmare" to buy.
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Old 10-19-2012, 01:23 PM
 
1,250 posts, read 1,886,200 times
Reputation: 411
Quote:
Originally Posted by tonygeorgia View Post

Come here to live the American dream. The haters will be
That's how we got in this mess in the first place. The only folks mad are renters who's rent has gone up and upside down folk who can't sell.
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Old 10-19-2012, 02:33 PM
 
Location: Atlanta
738 posts, read 1,378,170 times
Reputation: 332
Quote:
Originally Posted by Onthemove2014 View Post
That's how we got in this mess in the first place. The only folks mad are renters who's rent has gone up and upside down folk who can't sell.
Or the unemployed folks who lost their upside-down homes to foreclosure and are now renters whose rent has gone up.
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