0
0

Is Atlanta RE dead/hit hard by recession?


               
2011 Jul 18, 7:20am   6,229 views  22 comments

by bubblesitter   follow (0)  

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.

« First        Comments 18 - 22 of 22        Search these comments

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.

« First        Comments 18 - 22 of 22        Search these comments

Please register to comment:

api   best comments   contact   latest images   memes   one year ago   users   suggestions   gaiste