Fed: Atlanta Housing Now Unaffordable (Congress, March, cost, Chicago)

[DRob4JC]

Atlanta now considered unaffordable for home buyers, according to Atlanta Fed report

Month after month, housing prices in metro Atlanta continue to climb at rates we’ve never seen before.
And a recent affordability report released by the Federal Reserve Bank of Atlanta shows the effect those increases have on our ability to buy a house.

The Home Ownership Affordability Monitor (HOAM) Index is an interactive tool that measures the ability of a typical wage-earning household to afford the typical house in any given market. It uses the HUD standard for affordability ⁠— generally accepted to be 30% of a household’s pre-tax income. Anything more is considered unaffordable.

So now that the 30% threshold has been crossed, people are freaking out and starting to protest for rent controls and housing rights.

Was it anymore affordable at 29%? Did it take a federal announcement for people to start protesting? Or is it all for show?

I'm not denying it's a problem - but I think it's a planned problem... in order create another crisis... in order to create more change based on dependence on government.

All of this stuff was totally avoidable. The main changes was the administration change that occurred in Jan 2021 and being gassed and locked down with COVID when many people lost jobs and businesses.

[Chi-town]

Rent Controls....
Whaaat Atlanta is NYC... even a Chicago has none.

The boom would end as too many others outside of Atlanta options to Texas that NEVER will do such controls. Want to kill investment and reason to choose it...

[Torn2pieces]

I blame everything on Biden and his Administration.



Get 5 jobs if you have to.

[It'sAutomatic]

Originally Posted by Torn2pieces

I blame everything on Biden and his Administration.



Get 5 jobs if you have to.

I agree. I want the next Republican president to interfere with the housing market in accordance with "small government, big freedom" principles.

[Chas863]

It sounds to me like the declaration that housing in Atlanta is "unaffordable" is just another ploy by the current administration in Washington to do more deficit spending and thereby buy more votes in the Atlanta area. After all, Georgia is now a swing state, and the Dems want to buy as many votes there as possible to help them win this fall and in 2024.

[Tall Traveler]

Originally Posted by Chas863

It sounds to me like the declaration that housing in Atlanta is "unaffordable" is just another ploy by the current administration in Washington to do more deficit spending and thereby buy more votes in the Atlanta area. After all, Georgia is now a swing state, and the Dems want to buy as many votes there as possible to help them win this fall and in 2024.

I agree, Let's Go Brandon.

[Chi-town]

People... Atlanta and every major city has a choice to set controls. Suburbs are not Atlanta city either.

How is this a Biden thing? It would be DOA for him to try thru Congress. Most larger cities do not have it ....CHOOSE ANOTHER.

Shows the sunbelt is not all the darling some thought.

Ask LA. Evolution of cities.

- Boom era.
- Infrastructure issues and cost. As suburbs boom too.
- Rising cost post building boom eras that new housing kept up.
- Price gouging and "IT" city gets too hot.
- Cost skyrocket as Corporate America moves for the cheap and incentives.
- The cost get ridiculous and boom slows.
- A new city Corporate America looks toward and new "IT" city comes.

Yet all along are the Northern cities with prices rising much less. You just get real winters...Corporate America pays more taxes.

They get wimpy if they get real winters....

Next decade... is the Midwest and North rise again....

Texas can leave America if fear of purple hits the fan... Less likely right now. Time will tell till if after 2024.

[1AngryTaxPayer]

Originally Posted by Tall Traveler

I agree, Let's Go Brandon.

They get what they vote for.

[trobesmom]

The housing market has been overly inflated since before 2020, especially because of Fed policy. Also people working remotely have been able to relocate to better locations and that has driven up prices in some areas.

[Chi-town]

Originally Posted by trobesmom

The housing market has been overly inflated since before 2020, especially because of Fed policy. Also people working remotely have been able to relocate to better locations and that has driven up prices in some areas.

So Atlanta metro is not? Hotlanta....Did not Corporate America luv the incentives and Right To Work preventing Unions and lower regulations????