Atlanta and the Recession (Columbus, Duluth: sales, leasing, home)

[TimelessClassic]

Originally Posted by Dytdude

we know Atlanta will bounce back, but when will it happen exactly?

If someone could tell you exactly when Atlanta would bounce back, they would be very rich, wouldn't they?

[xavier132487]

Housing. At one point, the Atlanta area had about 75K housing permits/starts and was number 1 in the nation for them. Those numbers have dropped to 20K and number 4, respectively. That should be an obvious reason why we took such a hit. Not to mention the number of failed banks here from said bubble. And the ever growing population (we STILL have over 100K people moving here per year, albeit the number has gone down some, it's still higher than ANY job growth, which has been negative for some time).

[Dytdude]

Originally Posted by runningncircles1

And the ever growing population (we STILL have over 100K people moving here per year, albeit the number has gone down some, it's still higher than ANY job growth, which has been negative for some time).

And THATS the problem im having...isnt Atlanta oversaturated...WHY are people still moving here with negative job growth. So many people have told me they have came down here for the jobs only to be standing in long lines at job fairs and join the thousands of natives and transplants competing for the scant jobs.......

[neil0311]

Originally Posted by Dytdude

And THATS the problem im having...isnt Atlanta oversaturated...WHY are people still moving here with negative job growth. So many people have told me they have came down here for the jobs only to be standing in long lines at job fairs and join the thousands of natives and transplants competing for the scant jobs.......

Atlanta isn't "oversaturated" any more than NY or LA are "oversaturated." Right now, the economy is just getting back on an even keel, but the problem is that Atlanta has a large exposure to real estate, building, and banking, and these sectors were the ones hit hardest.

I agree that people are silly to move here on the hope of getting a job or based on some myth of Atlanta being a "mecca." Of course the same thing is true for any city or state. You either need a job or plenty of cash on hand to tide you over for a year or two.

[Dytdude]

Originally Posted by neil0311

Atlanta isn't "oversaturated" any more than NY or LA are "oversaturated." Right now, the economy is just getting back on an even keel, but the problem is that Atlanta has a large exposure to real estate, building, and banking, and these sectors were the ones hit hardest.

I agree that people are silly to move here on the hope of getting a job or based on some myth of Atlanta being a "mecca." Of course the same thing is true for any city or state. You either need a job or plenty of cash on hand to tide you over for a year or two.

I dont know NY and LA seem like they have the infrastructure to handle their populations...Plus they arent adding people like Atlanta is....

[Britishintown]

I expect to be creating some employment in Atlanta in the next 12 months following some news I had yesterday. That's a start.

[SouthernBoy205]

Personally, I think some big headquarters in Atlanta will find some other places to live. Atlanta can't boom forever. It's some other city's turn now to grow like crazy besides the current ones. I think it take a while for Atlanta to get back on track. Because of the current economy, people will be way more cautious post-recession about housing and other things, still causing a little slow down with some huge corporations, like Home Depot. It's good that Atlanta's economy is so diversified and huge, but it's too diversified to the point where more than half of the corporations that makes the economy may suffer. Atlanta, although already is presently, should have an economy that includes corporations that will be needed everday and will never but sligtly fail, like the medical industry. After the economy, I don't think that Atlanta will be the "PLACE" to live. Places like Dallas and Houston have economies that are secure by having industries like oil and technology. We are going to always need these. Ao, I think these places are going to be KNOWN like Atlanta is and was.

[neil0311]

Originally Posted by Dytdude

I dont know NY and LA seem like they have the infrastructure to handle their populations...Plus they arent adding people like Atlanta is....

Guess you haven't waited 90 min for the GW Bridge or Lincoln Tunnel, or sat forever on "the 405" in rush hour?

[Cowboys fan in Houston]

Originally Posted by A&M Bulldawg

Personally, I think some big headquarters in Atlanta will find some other places to live. Atlanta can't boom forever. It's some other city's turn now to grow like crazy besides the current ones. I think it take a while for Atlanta to get back on track. Because of the current economy, people will be way more cautious post-recession about housing and other things, still causing a little slow down with some huge corporations, like Home Depot. It's good that Atlanta's economy is so diversified and huge, but it's too diversified to the point where more than half of the corporations that makes the economy may suffer. Atlanta, although already is presently, should have an economy that includes corporations that will be needed everday and will never but sligtly fail, like the medical industry. After the economy, I don't think that Atlanta will be the "PLACE" to live. Places like Dallas and Houston have economies that are secure by having industries like oil and technology. We are going to always need these. Ao, I think these places are going to be KNOWN like Atlanta is and was.

In terms of population growth Atlanta is still booming. Atlanta has the 2nd largest population gain since 2000 of all the MSA's (Dallas-Fort Worth being the 1st). Over 1.1. million new residents since 2000.

Also I think the part about the economy is correct. Atlanta does have a big economy. However the economies in Texas are more aimed at natural resources (ie Oil, energy, natural gas). These are things that will pretty much never go out of style. Atlanta is a huge center for the media and for medicine. That will certainly help, but they do need to diversify a bit. They wont ever be Detroit because Detroit put all its eggs in one basket (Automotive). Atlanta has not.

[tdatl]

i used to do my motorcycle riding in the mountains, but in the past couple of years, i've driven around the metro, hitting the various cities... what really stands out to me is just how overdeveloped we are, both in housing & commercial. There is a LOT of empty/unfinished development in Atlanta no matter where you go. I think it's going to take years to absorb, especially the commercial stuff.