Atlanta rent increases outpaced most of the country last year

[KOohbt]

When that housing bubble pops again

 

[phcitywarrior]

Already happening but slowly. Philly should thank NYC and DC for pretty much being the main magnets on the east coast.

Philly actually makes sense as an East coaster. You get the big city feel of NYC but at Baltimore prices. Additionally, you're 2 hours out NYC and DC. Very central for weekend trips.

 

[phcitywarrior]

people from the south should bought property when screaming about how cheap their rent is. Not any more.

Fixed that for you.

 

[BVII]

You are seeing this article now but this has been creeping up for a while.

In 2009 i moved to a nice 750+ sqf apartment in Alpharetta. Being in Alpharetta you know it was newer and was super nice compared to most other apartments. By far the nicest apartment I ever had.

My rent was $590/month on a lease special. The rent slowly creeped up over the next 5 years I was there and by the time i moved out in late 2014 I was shelling out $1,260 /month. Granted that $1260 was month-to-month rate which cost more (i was buying a house so i didnt want to lock myself into another lease). The Lease rate they were offering me at the time was around $1,080 /month.

I bough a house near downtown near the East Atlanta Village area. I live alone in an 1,800 sqft, 4 bdr 2 bth house and my mortgage (taxes and insurance included) is still below $1,000 despite insurance cost hikes since i moved in.
I cant preach home ownership enough. One of my biggest mistakes ever was waiting so long to buy

Owning a home in some cases may be more expensive than renting though when you start factoring in other fees that renters won't have.

 

[intruder]

Owning a home in some cases may be more expensive than renting though when you start factoring in other fees that renters won't have.

Fees? What fees?
Name them.

Only thing I can think of would be repair costs for which you have insurance and a home warranty you can purchase each year.

Oh and all the taces I pay as part of my mortgage...I get it all back when I file my taxes

 

[Wild self]

People swear it’s so easy to just move down south and get a job easily. Plenty people from other parts of the country get humbled all the time moving to the A and other places thinking shyt sweet down here.

Overpopulation and lack of regulation from greedy renters ruined ATL. Used to be the domestic spot for black men to wild out.....now its an overcrowded ratchet place where degenerate behaviors are normalized.

 

[HARLEM AL]

people from the south should have shut their mouths when screaming about how cheap their rent is. Not any more.

Right!
Man that shyt is still cheap compared to NYC

 

[UberEatsDriver]

Philly actually makes sense as an East coaster. You get the big city feel of NYC but at Baltimore prices. Additionally, you're 2 hours out NYC and DC. Very central for weekend trips.

Yup I see my cousins normally like it’s nothkng. The drive to Northeast Philly from South Brooklyn is easily just 1 hour and 30 minutes.

With traffic it could take that long to get to the Bronx lol.

 

[UberEatsDriver]

Right!
Man that shyt is still cheap compared to NYC

ATL is cheaper but you are making the same mistake everyone else makes. It’s not about the sticker price alone.

$1400 a month for someone making 63K a year is not any different than someone’s paying $2800 a month and making 126K a year.

 

[BVII]

Fees? What fees?
Name them.

Only thing I can think of would be repair costs for which you have insurance and a home warranty you can purchase each year.

Oh and all the taces I pay as part of my mortgage...I get it all back when I file my taxes

Higher utility bills, higher insurance cost, taxes, upkeep/maintenance, and repairs are some things just off the top of my head. I'm not knocking anyone who chooses to buy though, I'm just saying that buying a house may or may not be a good financial decision.

 

[UberEatsDriver]

Higher utility bills, higher insurance cost, taxes, upkeep/maintenance, and repairs are some things just off the top of my head. I'm not knocking anyone who chooses to buy though, I'm just saying that buying a house may or may not be a good financial decision.

To your point there are cities that more rent friendly and cities that are home owner friendly.

If I’m not mistaken LA was one of those rent friendly cities several years back. Not sure about now tho.

But basically if the average mortgage is more than the average rent then renting would be cheaper.

 

[ArKane24]

It’s easy to get an experience when white mommy and daddy still have a big house in the burbs of Colorado.

True, the night I moved to Denver this young white kid saw our Penske on the street and asked where we were moving from. Long story short, he was moving to Brooklyn with about 3 friends in two days. Parents owned a big 2,700 sq ft house in Thornton, about 15 minutes north of Denver. Ran across around 20 or so more people saying the same when I was moving around in the city.

 

[ArKane24]

When that housing bubble pops again

I was in my mid-twenties with fukked up credit last time. Got my credit right this time, just waiting for it.

 

[Nintendough]

Philly might be coming in the next few years too.

Philly already expensive and suspect

 

[Nintendough]

Black folk, the time to move to the burbs and own a house is ripe. Me and my wife did it right on time. My street is mostly black, used to be white. Its small town but I'm close to EVERYTHING and I'm off a major highway.



Soon as cacs get bored with the city and wanna have the green grass, picket fence environment again they will try to come back. Nobody rents on my street, we own I'm ready.