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02-17-2009, 10:08 PM
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GreekChat Member
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Join Date: Aug 2006
Location: Atlanta area
Posts: 5,382
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Atlanta was pretty bad off according to one article on this report. Does anyone know where you can find historical archives of similar information?
One of the factors that was high in Atlanta was rental vacancies, and I think those were pretty high even before the real estate bubble burst since anyone who could possible qualify for a mortgage did.
Sure, foreclosures and the associated empty properties are surely up, but I actually think rental market might actually be better than it was say two or three years ago.
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02-17-2009, 10:43 PM
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GreekChat Member
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Join Date: May 2007
Location: In a house.
Posts: 9,564
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Quote:
Originally Posted by UGAalum94
Atlanta was pretty bad off according to one article on this report. Does anyone know where you can find historical archives of similar information?
One of the factors that was high in Atlanta was rental vacancies, and I think those were pretty high even before the real estate bubble burst since anyone who could possible qualify for a mortgage did.
Sure, foreclosures and the associated empty properties are surely up, but I actually think rental market might actually be better than it was say two or three years ago.
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that's because everyone was migrating from NY to the ATL back in the 90s and coming back in the 2000s...I know so many of them....LOL
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02-17-2009, 10:47 PM
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GreekChat Member
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Join Date: Oct 2000
Location: Beyond
Posts: 5,092
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The "house" always wins... Vegas waited on man's greed and mammoth structures to coerce people in living there. But, the livelihood is harsh because it's >115 F in the summer and colder than normal in the winter... Besides all of LA would jump over to Vegas until they offered some fantastical life that they could not back up over time. Many of the 2nd strikers from California would move to Vegas that does not have 3 strikes rules... Lastly, Nevada corporations were formed, who barely had to pay any state taxes, but be based somewhere else...So Vegas does not shock me...
Detroit and Atlanta, those do cause my eyebrows to raise, because for Detroit, when did they ever get out of their doldrums... And Atlanta, it's problems were predictable. It was not a matter of if, but when, unfortunately... They growth superseded their capacity to maintain a city...
But, hey, Los Angeles might be next--who knows these days... Hayle, San Diego might be next...
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02-18-2009, 08:09 PM
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GreekChat Member
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Join Date: Aug 2003
Location: Michigan
Posts: 15,854
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Quote:
Originally Posted by AKA_Monet
Detroit and Atlanta, those do cause my eyebrows to raise, because for Detroit, when did they ever get out of their doldrums... And Atlanta, it's problems were predictable. It was not a matter of if, but when, unfortunately... They growth superseded their capacity to maintain a city...
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While the city of Detroit proper has been losing population consistently for quite some time, that has not been true of the metropolitan area. The metropolitan area was continuing to grow until the housing bust, about 2 years ago. This article specifically referred to the "metropolitan area". True, people were leaving the city itself, but they were populating the suburbs. The number of abandoned homes in the suburbs is shocking.
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05-01-2009, 09:18 AM
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GreekChat Member
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Join Date: Aug 2002
Location: Home.
Posts: 8,261
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Quote:
Originally Posted by AGDee
While the city of Detroit proper has been losing population consistently for quite some time, that has not been true of the metropolitan area. The metropolitan area was continuing to grow until the housing bust, about 2 years ago. This article specifically referred to the "metropolitan area". True, people were leaving the city itself, but they were populating the suburbs. The number of abandoned homes in the suburbs is shocking.
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Is it all the suburbs, or primarily the working class/middle class suburbs? At least here, it's the marginal suburbs that are feeling the impact of foreclosures and short sales. Home prices are a little lower in the wealthy suburbs, but the homes are still selling. Is that true for Detroit, or are homes being abandoned all over the place?
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05-01-2009, 12:28 PM
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GreekChat Member
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Join Date: Aug 2003
Location: Michigan
Posts: 15,854
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They are being abandoned all over the place. There are mansions in wealthy areas in foreclosure just as there are in working class neighborhoods. And, it's about to get worse with the stuff that happened with Chrysler this week.
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06-24-2009, 04:25 PM
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Registered User
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Join Date: Aug 2001
Posts: 1,373
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Detroit's problems are deeper than Chrysler and GM. Any city with a 24% high school graduation rate is a slum.
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