Though we’re nary a quarter into 2011, a variety of news outlets have flooded their airwaves and pages with news and predictions related to the state of the housing market. Cautious optimism seems to be the tone of predictions as a variety of issues can drastically alter the market at a national, state and local level.
The Good News
January kicked off 2011 with positive numbers. The U.S. Census Bureau and the Department of Housing and Urban Development reported that housing starts nationwide increased by 14 percent. The Atlanta Business Chronicle reported in February that while housing prices have fallen in Georgia, a variety of factors have the state’s home builders poised for a comeback.
ULI hosted a luncheon with Bob Voyles, founder of Seven Oaks Company, chairman of the Perimeter Community Improvement District Board and chair of the Land Development Committee of the Georgia Regional Transportation Authority. Voyles expressed optimism about the future of Atlanta real estate, but focused on how much of a role transportation would need to play. Prudential Georgia Realty President and CEO Dan Forsman held a webinar to share the company’s statistics, and also sees potential for growth over 2011.
When searching for a home, many home buyers want to ensure that the education system is up to par. While the Atlanta-area boasts schools that are award-winning, on January 18, Atlanta Public Schools were placed on probation by the SACS accrediting body. In other school news, the Cobb County school board recently voted to return to a traditional calendar, effective next school year.
Two key legislative issues have the potential to help or hurt the Atlanta real estate market. At a national level, the mortgage interest deduction for homeowners is being threatened. NAHB is fighting back through its Save My MID campaign. At a local level, the tri-state water wars threaten the source of much of Atlanta’s current drinking supply. The litigation is ongoing, and the outcome will be monumental.
Talk back to us. What do you see helping or hurting the Atlanta real estate market? Is there an ongoing issue you would like Atlanta Real Estate Forum to cover?