Report calls Atlanta 2nd worst housing market

A company that studies the housing market for the banking business, Local Market Monitor, has compiled a three-year forecast for the top 100 cities.

The prognosis for housing in Atlanta: not good.

In fact, the Atlanta-Sandy Springs-Marietta metroplex comes in No. 2 in the bottom five markets in the nation. That is, it’s second worst, behind only Wilmington, Del.

The problems with our market cited in the forecast are well familiar. The number of jobs has fallen, income is below average, prices have been falling and we overbuilt.

Rounding out the bottom 5 are Tucson, Jacksonville and Sacramento, all of which have suffered big drop offs in home prices.

The top five housing markets are: McAllen, Tx, San Jose, Akron, Houston and Pittsburgh.

The winners gained from factors including jobs growth and, in some but not all of those markets, home price stability in good times and bad. No boom, no bust. There’s more in the report from MarketWatch.

8 comments Add your comment

BigDawg

January 27th, 2012
11:46 am

Let’s hope for “Change we can believe in” come November!!

Shaquonda

January 27th, 2012
5:35 pm

ATL massively overbuilt for years because of Community Reinvestment Act easy mortgage money, now we’re all paying the price. God save us from government social engineering.

Bob Walters

January 27th, 2012
11:00 pm

What’s killing Atlanta real estate is property taxes. In the city of Atlanta, the monthly property tax on a single family home is now nearly equal to the monthly rental rate. Who, in their right mind, would buy when renting is so much cheaper. It’s time for a version of CA’s proposition 13 in the city of Atlanta.

Massive

January 29th, 2012
5:32 am

we must strive to be #1 in the ATL!!! Rise up!!!!

Failed Capital State

January 30th, 2012
10:42 am

@ I agree. Let’s keep all Republicans out of public office! Greed is NOT good.

Moodly

February 1st, 2012
7:10 am

The real reason? Apelanta has gone the way of Chimpcago and Detoilet.

James E Ray

February 1st, 2012
5:41 pm

What apelanta needs is more of the same you have taking a once beautiful southern town and turned it in to a sprawling slum .

eyeznteef

February 1st, 2012
6:43 pm

NlGGERS are part of the reason ATL’s real estate prices soared in the 90’s and up until ‘07 or so.