Housing Still Very Local
This is interesting to me in regard to how local housing prices really are:
So while it makes sense to see prices drop in major cities (sort of, they were/are pretty inflated to begin with), the Atlanta thing is what caught my eye. My wife and I still own our house in Newnan, GA which is essentially Atlanta (it is a suburb just 20 miles south of the airport). So while housing prices in Atlanta have gotten hit, Newnan on the other hand has remained relatively flat. That is to say that the price we paid for our house in 2005 is still right about what we would get for it, more or less. Further, when we bought it in 2005 prices there were still pretty sane, so we didn't get in a bidding war to buy the friggin' thing. Granted it is more of the suburbs as opposed to the city but that is proving to be a positive as people now seem to be flocking there to get out of the city, so there is still some demand.