If you know people in New York, San Francisco, Boston or D.C., you've probably had some form of the "I can't believe how cheap it is to live in Atlanta" conversation.
I've read a lot of stories over the past year pointing out that, in several U.S. cities, it is now cheaper to buy a home than it is rent one. Because these sort of statistics are usually generated using city-wide averages, I assumed the "buying is cheaper than renting" condition was true only if you have good enough credit to obtain a mortgage at the lowest rates.
Last Thursday in Porterdale (approximately 35 miles east of Atlanta), Jean-Joseph and Angelica Kalonji arrived at their son's just-purchased home to change the locks for him. Vacant for seven months, the home and the 11 acres of land on which it sat were in foreclosure.