For a detailed look at the economy, the Anderson Forecast out of UCLA is a pretty good resource. You can buy their entire quarterly report, but this link will take you to a good summary - the report includes a deep dive into the failure and hoped for recovery by 2009, of the sub-prime market:

UCLA Anderson Forecast December 2007

More information like this, always, at IntownInsider.com. Lots of dry economics. We’ll package it as slyly as possible!

So, lets tell a joke about economists… Read the rest of this entry »

If there is one thing that I’ve learned in my first 45 months of operating The Rootdown Group, it is this: Atlanta’s real estate consumer, and to narrow that down, the qualified, Intown Atlanta and Decatur residential real estate Buyer, has a massive database of choices. New stuff everyday, in every submarket, at every price point, in every style, with good pricing.

And, the good ones go quick.

However, right now, less than 20% of the inventory of houses in the FMLS actually gets absorbed every month. The other 80% languish and eventually sell past their sell by date, leaving Seller’s stressed and bewildered, wounded and hopefully smarter. A big list of these properties get price reductions, and eventually sell. At closing, the crestfallen Seller collects a lot less than they expected, or brings money to the table. Damn, that hurts. Read the rest of this entry »