Dr. Rajeev Dhawan, director of the Economic Forecasting Center at… Georgia State University: "The state's default rate on home loans, especially in the subprime market, is below the national average, [but] we've seen a steady rise in foreclosures… The damage has begun and only time will tell… how much of an impact it will be on the region. This is undoubtedly the biggest risk factor for the local and state forecast…" Atlanta's total housing permits fell 5.2% in 2006. Permits will drop 21.3% in 2007, but will rise 3.1% in 2008 and increase 6.1% in 2009.
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