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What is up with the Atlanta Housing market? Prices!!!
 
What is up with the Atlanta Housing market?  Prices!!!

Back in 2007 and 2008 I predicted that the housing crash was going to be more severe and longer lasting than many people expected. Once we were in the depths of the houses crisis I predicted that we would not see recovery until investors started buying up inventory.  With a 1-2 year supply of homes on the market that was only way to dry up the excess inventory.  Looking in the rear view mirror I was right on both of those points.

Here is where I was (pleasantly) wrong.  Up until 2007 the Atlanta housing market was the "tortoise" of the national housing market.  Slow and steady with no volatile gains or decreases.  The average appreciation for .the area ranged from 2-4% per year.  From the late 1970's to 2007 there was only one time with 3 quarters of depreciation.  That was in the early 1990's and was only about a 1- 2% decline in total.  It was barely a blip in the big picture. (source http://www.fhfa.gov/Default.aspx?Page=216&Type=compare&Area1=12060&Area2=&Area3= )  I presumed that once the market dried up that we would resume to traditional rates of appreciation.  What I didn't count on was ... more

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