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Is Atlanta RE dead/hit hard by recession?


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2011 Jul 18, 7:20am   5,768 views  22 comments

by bubblesitter   ➕follow (0)   💰tip   ignore  

I was visiting Atlanta midtown district last week and saw plenty of high rise condo empty, waiting for buyers. A walk around the area and saw every other shop closed. Signs of retail space for lease were everywhere. Anyone familiar with that part of Atlanta? By the way this where Centennial Olympic park,Aquarium and Coca-cola museum are located.

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1   joshuatrio   2011 Jul 18, 8:02am  

You can get a screaming deal in ATL or the suburbs. Co-worker and I found nice 2,000 sq. ft. homes in great shape for like $80k.

But, it's hot and humid as crap out that way.

2   mdovell   2011 Jul 18, 9:16am  

I'm not that familiar with Atlanta but they just had a huge teaching scandal in their public schools. I'm all for public schools but if you plan on having kids and living there I'd highly recommend either private or to live in the suburbs. Ten years worth of cover up is enough to invalidate the system.
http://online.wsj.com/article/SB10001424052702303678704576441752866036530.html

3   bubblesitter   2011 Jul 18, 12:23pm  

joshuatrio says

But, it's hot and humid as crap out that way.

I stayed there for a week but humidity seemed less than NJ humidity.

4   zzyzzx   2011 Jul 20, 3:34am  

Yes, the RE there might be reasonably priced now. Unemployment is real bad there. Lots of factories shut down over the last couple of years, etc.

Plus I have no idea how the rise of other nearby big cities may have negtively impacted Atlanta. Decades ago Atlanta was a major "regional capital", but then Charlotte and (to an extent) Birmingham, and other cities nearby finally "grew up" so that could not have helped. I'm sure that someone who actually lives there know can give better reasons as well.

5   corntrollio   2011 Jul 20, 6:11am  

zzyzzx says

Plus I have no idea how the rise of other nearby big cities may have negtively impacted Atlanta. Decades ago Atlanta was a major "regional capital", but then Charlotte and (to an extent) Birmingham, and other cities nearby finally "grew up" so that could not have helped.

It definitely did impact Atlanta. Charlotte is king of banks, for example (and is a Case-Shiller city that has held up relatively okay despite being a bank capital). Atlanta definitely started the trend, but the rise of other southern cities did cause companies to take a second look when locating their national or regional headquarters. They looked to places like Nashville, Charlotte, and other growing cities with low costs of living. Atlanta is still the largest of them, of course, but it's not the only option any more. If you're a technology company, you'll take Research Triangle over Atlanta, and maybe even Huntsville over Atlanta with its cottage industry led by NASA.

6   C Boy   2011 Jul 20, 2:08pm  

Based on what I have seen on HGTV's House Hunters, Atlanta is knee deep in urban pioneers wanting to live downtown in hip lofts.

7   Katy Perry   2011 Jul 21, 12:36am  

Atlanta has always been one of those higher priced WTF areas with many micro hoods all priced special for one reason or another.
I firmly believe that Atlanta is behind (always is) at least a year maybe two on my areas housing trends. I get alot of "it's different here" tude from Hotlantians. so much so,.. I started to believe it too.
are things really changing from a year ago?

8   PasadenaNative   2011 Jul 21, 12:48am  

"I wouldn't live there if you paid me....I couldn't live like that, no siree!" ~ Talking Heads "The Big Country"

9   bubblesitter   2011 Jul 21, 12:55am  

I couldn't believe when I saw houses that need to be bulldozed are still being occupied, and this was right behind a 4 star hotel in midtown. Never seen anything like this even in LA downtown area. Never saw a cop car, I guess they come only when called.

10   edvard2   2011 Jul 21, 1:26am  

I grew up 3 hours from Atlanta. The biggest problem is its freeway system. Getting around is very difficult. I haven't been there in over 10 years which is probably significant since it has doubled in size since then. From what I hear people tell me is that its basically LA's evil twin with none of the nice weather.

That said, the prices are pretty affordable for a major big city.

11   bubblesitter   2011 Jul 21, 2:16am  

edvard2 says

prices are pretty affordable for a major big city.

Proly good place to retire. How much does it snow in winter?

12   Vicente   2011 Jul 21, 2:47am  

mdovell says

I'd highly recommend either private or to live in the suburbs.

I lived 20 years in downtown areas and miss it. You couldn't PAY me to live in the burbs. My sister lives in Alpharetta and everytime I visit her it's depressing. Yeah here's your McMansion which you retreat to because nobody hangs out together, and here's your 3-car garage for all your vehicles you use to DRIVE DRIVE everywhere. Because taking the kids to play at the park means DRIVING 20 MINUTES to get to a newly built play-park which has no shade and it's hotter than crap. No thanks.

I don't think the teacher scandal neccessarily shows the schools are any worse now than 10 years ago. I went to Georgia public schools and still made it through Georgia Tech somehow. What it shows is if you tie money and jobs to scores, then people WILL attempt to game that. No surprise there and I don't really think it means it's impossible to get a decent education. Bubble sheets do not show you doodly-squat IMO and are worse than useless. How did we manage before "standardized testing"? Well we did, and I think that's worth examining.

13   zzyzzx   2011 Jul 21, 11:43pm  

bubblesitter says

edvard2 says



prices are pretty affordable for a major big city.


Proly good place to retire. How much does it snow in winter?

None. On the rare freak uccurance when it happens (ice is more likely) the whole city shuts down anyway so it's not like you have to leave home even if the amount of snow is tiny. In Atlanta only stupid people even try to drive in it so you are really taking your chances if you even try. Roads are not plowed.

14   zzyzzx   2011 Jul 21, 11:47pm  

edvard2 says

I grew up 3 hours from Atlanta. The biggest problem is its freeway system. Getting around is very difficult. I haven't been there in over 10 years which is probably significant since it has doubled in size since then. From what I hear people tell me is that its basically LA's evil twin with none of the nice weather.

Except Atlanta isn't particularly close to any beaches.

15   corntrollio   2011 Jul 22, 2:53am  

zzyzzx says

Except Atlanta isn't particularly close to any beaches.

Atlanta isn't particularly far from beaches either -- certainly more than easy enough for a beach vacation, as is common on the east coast. Savannah is about 4 hours, and Hilton Head is just up the road from there. And those beaches are far less polluted and actually have water you can swim in because of the lack of toxins and because it's warmer and you don't need a wetsuit.

People think the beaches are better in California because they watch too much TV. In reality, locals don't go to some of those beaches, and a lot of them aren't that impressive and are gross. Even San Diego's beaches don't have particularly warm water.

16   corntrollio   2011 Jul 22, 2:56am  

zzyzzx says

None. On the rare freak uccurance when it happens (ice is more likely) the whole city shuts down anyway so it's not like you have to leave home even if the amount of snow is tiny. In Atlanta only stupid people even try to drive in it so you are really taking your chances if you even try. Roads are not plowed.

This is quite common when you go south of DC -- snows are rare, but when they happen, people freak out, and the cities aren't prepared for it because they don't even have DC's inadequate level of salt/equipment.

What also happens in the South sometimes are "ice storms" where you get tons of freezing rain, which covers everything with a sheath of ice. Doesn't happen as much in the northeast.

17   edvard2   2011 Jul 22, 3:18am  

I'll second the comment about beaches. People make such a huge deal about being close to water. Big freakin' deal. Who cares? I live within walking distance to the beach and haven't gone in years. For starters- the water in the Bay Area is 55-60 degrees year-round. Secondly, there was over 100 years of industrial pollution thrown in there and you won't catch me swimming in it. If you want real beaches where you can actually swim and its nice- go to Hawaii. Then again you'll pay a fortune for it too to live there.

Atlanta isn't bad. It isn't great either. Its sufficient. I'd have no problem living there but it probably isn't my first choice either. I'd pick it over any Northeastern city for the sake of weather alone because after 2 years living in Boston I've had all the nasty winter weather I care to endure and can understand why so many people from up North move down South- because the weather is plain-awful.

If I were to pick a Southeastern city I'd probably choose Nashville since its got a lot of potential and it isn't that big- yet.

18   bubblesitter   2011 Jul 22, 3:43am  

edvard2 says

I live within walking distance to the beach and haven't gone in years

That's how rich spend their money. Just to have a glimpse of water they hardly step into they pay thousands more.

19   foxmannumber1   2011 Jul 22, 4:14am  

Atlanta is ~61% black, ~33% white.

Atlanta Public School enrollment is 79% black, 12% white. This means that most whites are spending extra money for private schooling. The 'cheating scandal' revolves around this super majority of black students.

Unemployment in Atlanta is ~15.7% black, ~7% white. This means that crime against those that 'have' by the 'have nots' will increase if government aid ends before the jobs return.

Atlanta is heavily self segregated along racial lines, as are most major US cities.

This is a perfect storm for 'white flight' out of Atlanta, which will crush home prices in the area even more. If major industries pull out of Atlanta, then it could become another Detroit.

20   corntrollio   2011 Jul 22, 4:29am  

foxmannumber1 says

This is a perfect storm for 'white flight' out of Atlanta, which will crush home prices in the area even more. If major industries pull out of Atlanta, then it could become another Detroit.

This comment is nonsensical. You're talking about the City of Atlanta, not the metro area. White flight out of the City of Atlanta already happened. Who do you think lives in the suburbs of Atlanta? Think about the ones that don't have MARTA in particular -- even whiter.

Atlanta MSA has over 5,000,000 people, while Atlanta city only has about 420,000. The city of Atlanta has lower population than Nashville-Davidson city-county, Memphis city, Louisville city, Charlotte city, and even Virginia Beach city, but Atlanta MSA is far larger than any of those cities' MSA. Atlanta MSA is the 9th largest MSA in the country, but the City of Atlanta is only the 40th largest city in the US. Less than 10% of the people in "Atlanta" actually live within city limits.

21   bubblesitter   2011 Jul 22, 5:46am  

foxmannumber1 says

it could become another Detroit.

For a while I thought it was Detroit if not becoming one.

22   Vicente   2011 Jul 22, 6:43am  

zzyzzx says

Except Atlanta isn't particularly close to any beaches.

Used to drive from Atlanta to Jekyll Island with my GF all the time. Lovely place. During a recent road trip W->E and back we included Jekyll so Lil Vicente could walk on the sandbar at low tide which is always lots of fun.

Hartsfield Airport is a major hub with many flights daily to many destinations at a reasonable price. Living near Sacramento now and is not NEARLY so convenient to get anywhere by air.

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