Another reason it's great to live in Atlanta: Forbes Magazine cites Atlanta as one of 10 most affordable housing markets!
Monday, March 03, 2008
We at the zac team have said this before, but now Forbes Magazine agrees: our own Atlanta is one of America's most affordable areas, housing-wise. Forbes Magazine writer Matt Woolsey, the bulk of housing on the market here is within reach of the average household.
According to Forbes, Atlanta is experiencing growth yet remains affordable, just under 70% of homes sold in Atlanta in the first quarter of this year were available to the median income-earning household. Compare that figure to a market like San Diego. Although their city is in a price slump, homes are not more affordable. Only nine percent of San Diego homes sold in the first quarter of 2007 were within the reach of the median income-earning household. "Affordable markets are in a better position for a strong recovery, because more buyers can come in once prices fall," says Mark Zandi, chief economist at Moody's Economy.com.
According to Forbes, Atlanta is experiencing growth yet remains affordable, just under 70% of homes sold in Atlanta in the first quarter of this year were available to the median income-earning household. Compare that figure to a market like San Diego. Although their city is in a price slump, homes are not more affordable. Only nine percent of San Diego homes sold in the first quarter of 2007 were within the reach of the median income-earning household. "Affordable markets are in a better position for a strong recovery, because more buyers can come in once prices fall," says Mark Zandi, chief economist at Moody's Economy.com.
