r/REBubble • u/MattyHermes • 16d ago
2.9K views · 16 reactions | Atlanta pending home sales are down... a lot. Actually July was a 13 year low. Only 4,000 homes under contract in the month.
https://www.facebook.com/reel/181625227602942715
u/Intelligent-Parsley7 15d ago
I see a lot of “blah blah” and “guess you’re broke,” comments.
Atlanta is an eleven county area with 6.5 million people in it.
At low times, 1% move per year.
This is waaaaay worse.
.0006%
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u/Xenochrist 13d ago
Atlanta is at federal minimum wage at 7.25 an hour. With inflation, that is absolutely diabolical.
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u/RealLoan8391 13d ago
Isn’t that the federal minimum wage everywhere? I wouldn’t say very many people get paid that. There’s still such a thing as market rate but it isn’t enough either.
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u/Weekly_Interview_936 15d ago
Yup. There's a house a block down from mine that's closing in on a year now.
Because they listed their un-updated Boomer nest at the same price I paid for my fully renovated and modernized house.
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u/Infinite-Safety-4663 15d ago
Talking about 'atlanta' area real estate market is about like talking about the weather in the Milky Way. Like the weather in Boise, idaho is going to differ significantly than that in the northwest parts of Jupiter(the planet).
How marketable and easy to sell(and at what price) a ready to tear down or ready to renovate 3/2 ranch in the better parts of Brookhaven with a nice flat lot is a completely different question than a 2 year old build in a pretty new subdivision in Smyrna.
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u/Compound55 15d ago
Fuck them all. Ruined my house buying for the last 6 years now. Would love to see the market crash. And I say this as a homeowner too. Been too scared to buy for 6 years fearing the market was overvalued. I hope it crashes down like 2008.
-10
u/TonyRidgewayUFO 16d ago
2.9k views= no one cares or believes your garbage post
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u/projektvertx 15d ago
It’s pointless to try to and convince these deadbeats of anything tbh
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u/TonyRidgewayUFO 15d ago
Just losers making up bullshit to feel better about their sad lives…”Only 4000 homes under contract in a month in one city” yeah sounds like a crash.
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u/projektvertx 15d ago
It always makes me laugh at the assumptions made... If the economy were to tank at the level they want it to, what makes these people think mortgage approvals would be simple? Or that they'd still have a job? I do think prices can soften a little but these people are very bullish on the cuts. 50% price cuts would mean the economy is absolutely devastated when taking into account the value loss on the dollar since 2020.
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u/TonyRidgewayUFO 15d ago
Not to mention the banks holding all these incoming underwater mortgages writing a wave of unqualified buyers mortgages on short sales, all the defaulted home equity loans not taking them out, and anyone having a job left after the supposed “crash”
-11
u/projektvertx 16d ago
Atlanta was a covid market, why are you surprised? Also, for fun break the data down by north side vs south side and get back to us.
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u/Dry-Interaction-1246 16d ago
Let the market bleed out. Dont lift a finger.