Posted Feb 22, 2023, 9:19 PM
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Registered User
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Join Date: Mar 2006
Location: Atlanta
Posts: 979
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The Atlanta Journal Constitution has conducted a very well done and comprehensive study of this problem in the Atlanta area. The situation is quite bad. Here is a brief quotation from their recent investigation:
"Since the Great Recession, large investors have snapped up more than 65,000 homes in metro Atlanta and converted them to rentals. And the flood of Wall Street cash is pushing homeownership out of reach for many middle class families.
Investors buy in all but the wealthiest neighborhoods, but their homes are disproportionately found in African American communities.
Priced out of buying, families who wind up renting from these same firms can face deplorable conditions, exorbitant fees and frequent eviction filings by out-of-state landlords driven to maximize shareholder profits.
Metro Atlanta is ground zero for the investor takeover of the American Dream."
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