I was recently reading a investing firm’s blog that declared Atlanta a good investment. While there is plenty of troubling forecasts out there about real estate or the economy or unemployment, the article made some great points I think are worth repeating.
Even when the economic downturn hit, Atlanta continued to show signs of growth. According to Forbes Magazine, the city is one of the top ten cities in the nation for new construction and currently sits as the #1 rental market in America. It has been rated the 4th best city to invest in America by CNN Money.
Atlanta’s airport is a national and international destination point for over fifty-five countries.
There are already 145,000 private sector firms located in Metro Atlanta. Atlanta has the 3rd fastest growing jobs market in the nation, as well as the third most corporate 500 company headquarters (e.g. CNN, The Home Depot, UPS, The Coca-Cola Company, Delta Airlines, Sun Trust Bank). In fact, Kiplinger just named Atlanta one of its top 8 US cities with a surprising job growth rate and predicts an 8% job growth rate over the next 5 years.
Atlanta has excellent public school ratings in many areas, as well being home to a number of top tier colleges and universities.
Residents of Atlanta enjoy living in one of the least costly cities in the nation - the 4th most affordable city in the country to live in according to Forbes.
Earlier this spring, well-known billionaire investor Warren Buffett said on CNBC’s “Squawk Box” that he feels single family rental properties are about the most attractive investment you can make in today’s market. Buffet explained that in cities that have good solid housing stock and are growing, purchasing single family homes at a discounted rate will perform better than Stock investments over the long run.
Right now, interest rates are historically low. While the inventory of foreclosures and short sales is shrinking a bit, there are still many great opportunities to be had right now as well. Add all of the above listed reasons Atlanta is a great city and you have the formula for great investment.
To view some of our current inventory of real estate investment opportunities in the Atlanta metro area, visit www.PetersenPartners.com.