A new study has revealed that the median Atlanta home is overpriced. The city ranked second in most inflated housing in the nation.
The FAU study reached these conclusions after comparing housing cost on Zillow, which provided a more accurate estimation versus what the homes sell for. However, Johnson considers the overpriced costs to be a result of supply-and-demand issues. Despite this, he does not expect a housing bust in the city.
“I don’t think you will see a bust,” said Johnson to WSB-TV. “What you are going to see in Atlanta, and other places, is we are going to have a flat period in terms of property appreciation.”
According to Johnson, homeowners may not see the propertys’ values increase, and possibly would sell for the same price. On the other hand, the city has implemented new affordability programs to increase homeownership among its residents.
Despite these concerns, Atlanta has made significant strides in providing opportunities for affordable housing, especially given its large Black population.
However, the rising costs of homeownership still loom over residents. With this in mind, housing is emerging as an important issue across the state of Georgia.
Source: Black Enterprise
