When I say grow and grow I mean in terms of population and the economy. Many news reports keep mentioning a “real estate bubble,” and are trying to predict the time period that it will burst. I think that many Atlanta citizens are trying to do the same thing, and are basing their involvement in the Atlanta real estate market on when it will burst. However, this is an unreliable plan as Atlanta has no housing bubble. The Atlanta market has remained relatively steady during the worst times of the slump, and because of our strong housing market, we are in a prime position to make a full recovery quickly. There are not going to be any significant highs and lows to indicate that a bubble has burst. In fact, you probably won’t realize we are on our way back up. We haven’t seen a drastic decrease in home prices because our average home prices tend to be lower than the national average. We also have a strong job market and population growth. All of these factors have helped Atlanta stay on the outside of the housing bubble.

Atlanta seems like a pretty favorable place to purchase a home, which may be why Forbes Magazine has named Atlanta #10 on the “Best Cities to Buy a Home” list. And we definitely do have a strong population growth. One current trend has caused a shift in the Atlanta population, moving more people intown and increasing the city’s population. The gas prices and increase in living could be a direct cause of the move inside the perimeter, as more and more individuals are looking for live, work, play developments like 1010 Midtown.

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For those that have been waiting for the housing market to bottom out before purchasing a new home, you need to act NOW. Cyril Moulle-Berteaux - a managing partner of Traxis Partners, a hedge fund firm based in New York City - was recently published in the Wall Street Journal giving his opinion about the current state of the market. According to Mr. Moulle-Berteaux, we have reached the eye of the storm and can now begin working our way to the other side. The housing market has officially bottomed out as of April 2008 and will slowly begin to rebuild. We have been in a downturn in the housing market for almost 3 years because owning a home became too expensive for average Americans. However, home prices and mortgage rates have been falling, once again making purchasing a home affordable for everyone. With reasonable home prices, more people are going to be buying and we will return to the booming housing market of 2005. If you want a few more specifics, you should read the full article. Of course, if you are debating on whether or not to purchase a new home, you need to act quickly

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