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In 2006, out of the top 100 metropolitan areas, metro Atlanta claimed second place for foreclosures. While wages have languished, average Atlanta families are shouldering more debt. As of March, residents had bigger credit card balances, mortgages and car loans relative to their income than average Americans. The equity that Atlanta residents have in their homes, plus the value of their house minus what they owe has dropped 14 percent since peaking in late 2005.
I honestly think that this situation is pretty sad. Since I am an Atlanta resident, and a lot of my family own homes here, it makes me wonder if people around me are soon to be at risk as well...
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