Atlanta’s SunTrust to merge with BB&T, shift HQ to Charlotte (White: house, closing)

[jero23]

Originally Posted by bu2

What do you think 2008-2013 was? There was a reason Atlanta took longer than almost anywhere else to pull out of the recession.

Obviously, it hasn't learned from that lesson because the excessive push to keep building things without tenants is back. You would be amazed at which developments have been proposed and rezoned within this region and doesn't have anything to put into there without any real occupants. Oh yeah, this has been done since the post-2014-2015 period...

[Mutiny77]

Originally Posted by jero23

Obviously, it hasn't learned from that lesson because the excessive push to keep building things without tenants is back. You would be amazed at which developments have been proposed and rezoned within this region and doesn't have anything to put into there without any real occupants. Oh yeah, this has been done since the post-2014-2015 period...

Which major developments in Atlanta in recent years are spec? It seems like just about all of the ones I'm aware of have a major tenant signed.

Edit: found the answer to my own question in this article:
https://www.globest.com/2018/10/19/t...20190124182209

[Ric 0_0]

Originally Posted by rocotaco

I think what has been done is to draw anyone, at any cost. I notice a lot of lower income has been absorbed, specifically from the North East over the last 20 or so years. Areas that used to be middle class are now clearly lower class.

The other bomb this metro is sitting on, is property taxes. Some areas went up by factors of 20-40% in a single year with more to follow. I do not believe this is a smart place to live long term for most people. If you have a great job, then by all means. But Atlanta's best days may very well be behind her now or at least as a metro since intown is doing better at the expense of the suburbs.

Atlanta = a mess.

I would have to disagree with that (at least for North Fulton). North Fulton (Alpharetta, Milton, Johns Creek) are doing really well. there are plenty of jobs and homes for everyone, and basic every necessity is readily accesible.

[samiwas1]

Originally Posted by rocotaco

The other bomb this metro is sitting on, is property taxes. Some areas went up by factors of 20-40% in a single year with more to follow.

They didn't just go up out of nowhere. Property taxes were slashed during the recession due to depressed property values. But, they didn't increase the assessed property value as the economy grew back, then tried to do it all in one year. Property taxes are returning to where they should have been, but they didn't do it step by step as they should have.

[Mutiny77]

Originally Posted by rocotaco

I think what has been done is to draw anyone, at any cost. I notice a lot of lower income has been absorbed, specifically from the North East over the last 20 or so years. Areas that used to be middle class are now clearly lower class.

None of this is at all unique to Atlanta. It seems that you have very little experience with or knowledge of other places.

[citidata18]

Originally Posted by Ric 0_0

I would have to disagree with that (at least for North Fulton). North Fulton (Alpharetta, Milton, Johns Creek) are doing really well. there are plenty of jobs and homes for everyone, and basic every necessity is readily accesible.

North Fulton (Atlanta's favored quarter) was hit the least hardest during the recession and recovered the fastest due to being the center of Atlanta's tech industry.

So it's not necesarily the best example to counter the other poster's point.

[citidata18]

Originally Posted by rocotaco

I think what has been done is to draw anyone, at any cost. I notice a lot of lower income has been absorbed, specifically from the North East over the last 20 or so years. Areas that used to be middle class are now clearly lower class.

The other bomb this metro is sitting on, is property taxes. Some areas went up by factors of 20-40% in a single year with more to follow. I do not believe this is a smart place to live long term for most people. If you have a great job, then by all means. But Atlanta's best days may very well be behind her now or at least as a metro since intown is doing better at the expense of the suburbs.

Atlanta = a mess.

Another thing that will hit the Atlanta area hard over the next decade is the retail apocalypse.

During the 1980s - 2000s, there was a ton of overexpansion by retailers/restaurants into low volume and/or underperforming areas and a ton of speculative shopping centers that went up.

There are several areas in the region that simply don't have the income, corporate presence and population density to support all of the retail that was established pre-recession. You already see it happening in South DeKalb (around Stonecrest) and Clayton County (around Southlake). And it already occurred in South Fulton with the closure of Shannon Mall.

Other areas to keep an eye out on are Douglasville and Newnan (primarily middle/working class bedroom communities that were previously experiencing explosive growth pre-recession that have slowed down significantly).

[Gulch]

Originally Posted by rocotaco

But Atlanta's best days may very well be behind her now or at least as a metro since intown is doing better at the expense of the suburbs.

Atlanta = a mess.

Were the 70s and 80s really Atlanta's best days when the central city lost 20% of its population due to white flight and the sprawl machine kicked into high gear?

[Pemgin]

Originally Posted by rocotaco

You're right, but three areas out of dozens isn't a good sign. East Cobb hasn't slipped yet - but they're worried. Johns Creek is also not quite as safe as they'd like to believe. It's too close to Duluth which has slipped and Norcross which is abysmal. Both used to be solid areas.

Those are still solid areas. Nothing has "slipped." What does that mean?

I can't imagine anyone, except for the most ardent of pearl-clutchers, is worried about East Cobb slipping.

[Born 2 Roll]

This article talks about how picking a new name for a merged company like the new BB&T/SunTrust bank can be tricky.

Name game: Rebranding BB&T-SunTrust fraught with risk (American Banker)