The Council is proud to have 8 new Board Members serving in the 2014-2015 term:
In 2014, the following officers have been elected to lead the Council:
The Council would like to thank Mason Zimmerman, our 2013 Chairman, for his leadership during this important year in the Council’s history.
- Housing prices in Atlanta have gone up 18% in the last 12 months, and we are in the leadership role again in terms of growth.
- The number of houses rising from being underwater is increasing; we can expect 4-5 million more homes to rise above their underwater levels in the next 12 months.
- Unfortunately, housing prices are still only at 2003 levels, although that is an improvement from the 1997 prices present at the height of the recession.
- Housing market prices are low now, but prices are appreciating
- Home ownership – in terms of the percentage that individuals own of their home – is increasing. Before the housing crisis, people owned 58% of their home; that declined to only 38% of their home at the height of the crisis. Today, that percentage is back up to 50%.
- Individuals are collecting equity again.
- There is still a gap between usable housing units (600,000) and the demand for usable housing units (900,000), representing a total shortfall of 300,000.
- Unfortunately, students are still facing difficulties. They are still in debt, and many are unable to buy a home because they possess negative net worth. Households are also not being formed as early, as birth rates have peaked.
- In terms of employment, November was the 2nd consecutive month that 200,000 jobs were created
- This is encouraging, especially because November’s job growth contained a more balanced mix of the economy than October’s employment growth, resulting in greater purchasing power.
- We still need to see some growth on the consumer side of the economy. We are expecting about a 2.5% growth rate overall in this area.
- We are currently experiencing 2.1% growth in Georgia’s employment rate, and a 2.7% employment growth rate in Atlanta.
- Companies are starting to look to Atlanta for future growth.