Atlanta’s housing recovery is a tale of two cities, says prof. Immergluck

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Atlanta’s home prices are up 14 percent over the past year, according to Standard & Poor’s Case Shiller Indices. But behind that topline figure are Atlanta area communities such as Dunwoody, which has largely recovered from the housing crisis, and Riverdale, which is still struggling, with no end in sight. Only 12.3 percent of homes in Dunwoody's 30338 ZIP code are valued lower than the outstanding mortgage balance. In Riverdale, 76 percent of the homes are underwater. "[The increase] is due primarily to a dual housing market, with more affluent communities within the region seeing a strong rebound, but with moderate-income areas seeing continued weak activity and low values," says professor Dan Immergluck. "It is really a tale of two markets."

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School of City & Regional Planning

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atlanta, dunwoody, housing crisis, housing market, riverdale, suburb. mortgage, underwater
  • Created By: Jessie Brandon
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  • Created On: Aug 14, 2014 - 4:35am
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