3 corporations own 19,000 metro Atlanta homes. What does that mean for the housing market?
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- Опубликовано: 2 мар 2024
- A recent study by Georgia State University researchers found that three corporations own more than 19,000 homes in Atlanta’s five metro counties.
The full story: 2wsb.tv/3T3jPqz
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Shame on local governments for allowing this.
Blame federal too and both political parties
@@toxicblackman Blame the Federal Reserve and US Treasury
how is this the government fault? Its a free country and someone sold them these homes and it wasnt the government. Now, if you want to force them to sell, then dont lease any homes from them and eventually they will have to foreclose on them. But I guess you believe you have to lease a home from them.
These Corporations have to sell more than half of these homes to first-time buyers
@@safeandeffectivelol might as well blame yo mama too. btw she so fat......
Wiping out the middle class ownership.
the middle class are the ones selling the houses to corporations. They are doing just fine and made a substantial profit. Its the people who rent, typically poor folk who are getting squeezed.
That's the plan.
Heading back to how it was in medieval times when the aristocracy owned all of the land and the peasants had to pay rent to live on their land.
yeah but we are constantly building more homes.
@@francismarion6400 alot of these companies are going to go bust and liquidate their stock of houses. That will be the time to buy.
Food, Water and SHELTER should never be a struggle to aquire in this country.
Not according to the WEF who wants to cram everyone in 15 minutes cities
This should never have been allowed in the first place. We lost out on 4 homes due to these corporations, and three of them are still sitting empty.
Allowed? It is being incentivized by lending policies at the federal level.
Companies should not be allowed to own single family homes.
Depends on what the home is used for. Recovery houses, for example, do not need to be sole proprietor - thats where corporations are good.
None of your business. Companies also RIGHTS to invest in residential Real Estate. Why don't you regulate your own rights first before insults others smfh
@@ShawnSmith-ss5otCompanies do not vote and do not need single family homes. Voters do. One of the most basic roles of any government is to enable people to have an 'advanced' society. In order to do that people need places to live and raise families. When we allow those places to become investment vehicles we trade a prosperous society for short term gains.
So as voters yes it is very much our business, it is our city/town and state not some companies. We the people are the voters, we the people elect our representatives and we the people make the laws.
@@ShawnSmith-ss5otYou people who defend corporations are disgusting and immoral.
@@ShawnSmith-ss5ot are you a corporate shill bot?
That’s absolutely fucked. This needs legislation, FAST.
There's been talk about either taxing those companies that own a certain amount of homes extra until they sell or capping their ability to buy at a certain amount. But the second one they can get around by simply starting a new company and making the purchases through it instead of the first one!
@@giveme10feet yes but they'll just raise the rent to pay for it
@@janiemaebeautyBINGO
First Phoenix, now Atlanta.
Democrats are willing to do it but you know the Republicans ain’t going to do a thing about this
When people talk about inflation, remind them it’s price gouging.
If it takes this long for a news organization just to cover what has been happening for years. How long will it take to actually do anything about it?
If there were ever an appropriate place for squatters, the corporation-owned ones would be it.
😂😂😂 very good point!
Yup.
THERE IS NOT AN APPROPRIATE PLACE FOR SQUATTERS
Yes!!
@@otherworld11 in the homes of CEOs!!
“You will own nothing and will be happy” quote is making more sense now.
Don't work
Be homeless
@@TheDukens90 Don't be a ignoramus, the idea is to work, work your ( , ) 0ff, rent and never own a home. As Klausy old boy has said " You own nothing, rent and be happy"
Exactly
Modern day serfdom. You don't own the home or land, you just work your entire life and own nothing to pass on to your kids. Once you are unable to work and pay the rent, you are forced out.
Just like the black dood dont want any responsibility having the company fix the house literally owning nothing and being happy in the process. Finesseing the poor to pay off a whole neighborhood is a norm now :/
Progress, Mainstreet, Invitation is actually
Blackrock, Vanguard, State Street
This has been going on for a while , this should not be allowed, I'm in the construction business and we sold a home to a company that owns 58,000 residential homes.
your boss or the seller is partially to blame. people like this just love making a quick buck without considering the consequences of what they're doing.
This is what happens when you don't regulate corporations, thank your government
They get a few thousand bucks from lobbyists and yeah, corporations run the world. I can't believe how easy it is to be a sell out. Politicians are the worst.
There was after the 2005-2007 housing burst and 2008 in the President put in regulations. In 2017 these and other regulations were removed.
Thank you Republicans you mean
@@xadam2dudex No, no. Don't think for a second this is one sided. Both parties contribute to this.
@@janetpelletier1238 false equivalency ..
Sickening……the corporate greed will lead this country into a downward spiral.
It already has.
You are Here.
imagine a county without them where there is no investment. The govt is usually incompetent. Go to any public housing and see what i am talking about. No one wants to live there.
Will lead? We are already there.
The government endorses it and probably receives huge donations on both sides of the aisle.
"You will own nothing and be happy". Why is anyone shocked?
"You'll be happy or else!"
Homes should be owned by individual people. Period.
Its exhausting as a normal first time buyer to be pushed out by these corporations who are literally stealing the people's future.
They aren't stealing anything. They can legally buy these homes.
Personally, I think it should be illegal.
Exactly!! It’s been going on in CA for years, it has pushed housing prices to astronomical prices, and most people just cannot afford.
Keep voting democrat.
Hope your illegals move into those homes for free. Squatters rights.
Gp Biden votets
Some of those corporations are based in China, Saudi Arabia and Russia.
Buying up USA farm lands and tens of thousands of American homes & apartment complexs.
Seems suspicious.
Look into USDA direct single family home loan. Been in our house a year it's not based on credit,no down payment needed. We did pay earnest money but we bought 4 brdrm 3 full bath home in DFW area . I hope this helps
I’ll vote for anyone who gets rid of this. Corporations should NOT own single family homes.
Housing and inflation are two key issues for me. It’s not hard
Looks like you aren’t voting 😂
I wish we could get enough politicians behind stopping those greedy corporations too.
Be on the look out for anti-WEF candidates then Pam because this is all part of their so called great reset which aims to have us own nothing and be happy about it by 2030.
Senators getting rental money doesn't go against their income cap.
They won't vote against their own interests.
RFK jr is the only one speaking about this. its not on either the republicants or the democraps radar.
The bigger question is who's the parent company(s)? That the interesting bit.
Why aren’t our council members, mayors, governors, and senators fighting this ?!?!?
Tax Revenue and construction jobs and material
Cause they are getting paid
Because these corporations and lobbyist are funding their reelection campaigns.
Shut it down. Shut it ALL down.
@@__BA__Basically
They won’t. In the name of prop taxes the government has colluded.
@@__BA__ the corporations own us. just get over it. then eat them when they aren't looking.
Too late…They (Black Rock) have already bought off politicians at each level of government 😭
what about all the people who are selling homes, are you going to limit who they can sell to? Imagine if the government told you that you have to take a significant financial loss to benefit poor people. Now someone owns your house on the cheap and you have gone bankrupt because people want cheap housing. Your kids miss out on generational wealth.
How much is that guy being paid to speak highly of the greedy corporations?
He probably a maintenance worker with reduce rent
@@AmberTysetiyeah that 5% discount really goes far…
@@malcolmsospicy. Yup especially in this economy. Some people never want to be home owners
@@AmberTyseti I was being sarcastic, but yeah it depends on your lifestyle or where you are in your life. It’s nice to be able to make a place home without worrying about repairs
@@malcolmsospicy I know you was being sarcastic 😂
This should never be allowed!! Shame on city/town officials!! Home sales should only be to individuals, families, legal citizens/residents!! Never to corporations! Create & sign a petition for this for next referendum!!
If you think the cable companies have a monopoly, just wait until companies like these get done with us.
This is why I refuse to sell to these greedy bastards no matter how much they harass.
I agree, my husband and I get endless texts, letters & calls from realtors harassing us to sell our home. We are in our 60’s and it isn’t to our benefit to sell our home or move when we retire. There is low housing inventory in New York & other states. Why should I pay more for another piece of a house ? I also don’t want a condo to downsize to & deal with HOAs, attached walls & less parking and stringent rules. It’s a shame that these greedy corporations are buying so many homes to make a profit off of renting, instead of selling these homes to prospective buyers! There are hundreds of corporations from foreign countries, such as China also buying these homes! Watch out America!
@@vetgirl71 I am getting offers at least every other week for some timberland property I own (ancestral land) from various companies I never heard of and from out of state. Just a few years ago there was no interest like that whatsoever. The land is high ground overlooking a huge electrical generating plant, one of the largest in the country, exactly a mile away. I really believe it is Chinese money looking for a good place to monitor the plant, or maybe sabatoge it in the future.
O'm going to sell to the highest bidder, so will most of the USA. You are a fool if you don't!
@@troyb.4101 Who are you calling a fool?
@@freespirit1975 Any one that does not take top dollar for their properties, if all other terms are the same.
Yup, I am a realtor in the Atlanta market and half of those rental homes have squatters living in them. The companies don't come out and check on nothing and the houses slowly start to dilapidate.
But these home prices won’t ever go down.
@@mytravls Yea, I know. I always talk about the unaffordability level, especially in Atlanta, because the average citizen down in the metro area is not making enough to afford these prices. Hopefully, something will change. But, now all I can tell people is if you have a goal of one day buying a house. Just slowly work towards getting everything together so when the time comes you can one day accomplish your goal of homeownership. Especially, since the government is barely stepping in to help people.
@@Clarktherealtor this is happening because the real estate market is out performing the stock market. When the stock market starts out performing real estate as it does most of the time the shenanigans will end. Remember that live by it educate others on it because it's the truth. Investors got to put their money in the best possible place and right now that's real estate but it will change.
If thats the case, atlanta will be the new Detroit.
@@mw4507 we hope not. But there has definitely been an uptick of squatters in these Corp homes. They never come out and check on them, so people are just squatting in them.
“You will OWN NOTHING….and eat ze bugs”!!! 😂😂😂
This should not even be allowed. Nationwide is a problem.
Now please do a story on how these companies treat their tenants.
I love how the "news" has finally caught up or have been allowed to report on this topic of the real estate market monopoly.
When regular citizens were saying this they were told to shut up or that it was "supply and demand" 🙄
Oh yeah, supply and demand. 😂 The classic excuse for greed. They can't use that as an excuse anymore, when they literally have enough money to affect the supply themselves. They're basically cheating, hoarding tons of houses in order to drive prices up. So damn dirty in my opinion.
Right! It was Shut up and vote democrat😒
Not surprised. Atlanta will sell everything including it’s soul for a dollar.
That has NOTHING to do with Atlanta. Its the same all over the country.
@@pincfxexactly. This is nation wide
@@02nupe -- Yeah, it's nationwide, but the corruption in Atlanta and Georgia is just a smidgen higher than most of the nation. Kemp and Fulton County. Tumors of corruption.
There's some serious lack of regulating here.
Guarantee it’s all tied back to state street, black rock and vanguard.
Exactly
Absolutely
Don't forget the granddaddy, Blackstone.
Yes indeed, sad part about is that some 401k’s managed by some of those companies are invested in the housing market, example the REITs, etc. Overall, these companies are using our money to invest in these homes and then charge us an arm and a leg to rent those homes. Gotta follow the money!
But, my 401k is through Blackrock 😢
This is not okay
Yes it is move to China if you dont like it. These homes wouldn't even exist if not for this free market.
I bet the people who sold their homes to the corporations are pretty happy with the deal. They made out just fine. My homes value increased by like 100k in the past 2 years.
blks rather buy jordans than to buy houses
If not for stuff like this there wouldn't be very many homes these companies build new homes and rehab old ones if you end that you will have to build or rehab your own home and we all know you're not going to do that. You'll probably end up demanding the government do it for you.
I can bet that this is happening all across America.
having 19000 fewer homes would drive prices even higher.
This is absolutely horrible. Greed is running this country into the ground. I completely understand why so many want to leave. The US government couldn’t care less about the citizens. As long as corporations are happy and pockets lined they don’t care how US citizens are living.
Neither Party cares!
Exactly. This is why so many people want remote work so bad that they are willing to take a pay cut. They know they can live on a 30k salary overseas comfortably.
exactly we need serious change in this country. covid ruined everything. greed is at it’s all time peak and the world has never been more evil.
Greed has been ruining the US since the 80’s. Ronnie Reagan told us that Greed is Good.
You are so right. Just compare healthcare in the US and healthcare in Europe. If the quality of life for citizens is important for any country, then the government does its best to ensure that there is a basic quality of life. For instance, internet service, cable tv, and a home phone cost between €18 and €35 in France. That price is for all three services.
19,000 is a major understatement because it only considers only Fulton, Clayton, DeKalb, Gwinnett and Cobb counties while the metro is much larger. Also, the problem isn't just these 3 companies. It is all corporate owned single family homes.
I live in Gwinnett and every new development townhouse/Single family home are for rent! When u drive through half the place is empty..
This needs to stop, it’s not a market it’s a CARTEL.
This is all over America. Companies outside of America own these. It's turned the SFR market upside down since the early 2000s when it all 'began'🎉
It's like renting a car, it's never yours and you will be paying for all your life. Also, they can kick you out once the lease is over.
If you knew anything about real estate and property, obviously you don't, even after you pay your house off its still not your, if you get behind on yearly taxes, you can loose your home also
Missing the entire point
@@GenX7119 At least most property taxes don't jump up 200% like rent does.
@@GenX7119Yet another problem. Property tax on residential property should be unconstitutional. Property tax was originally only supposed to affect properties that produce profit. But the Supreme Court twisted the words so they could tax everyones property
@@GenX7119but at least you are not throwing your money away as a homeowner to a landlord ! 🙄 If you own a home you gain equity and have more leverage to buy another home/condo down the road especially when you retire. Plus when you do taxes you get tax breaks from the interest paid on the property. If by retirement you opt to sell your home after you paid off the mortgage you get a windfall of money from your investment. But if you leave a rental, you don’t have the same benefits. Yes, we pay taxes but that’s the American way! No comparison to paying rent to a landlord and throwing your money away in the toilet! At least with this current situation mentioned of corporations buying homes and renting it creates bidding wars for homeowners when they sell and they can get paid over their selling price! 🙄
Some people still try and down play the severity of this too.
Usually those with a vested interest.
Shameful. Absolutely shameful.
Wtf is a starter home? A home is a home
It's a lower priced home generally smaller in size that allows a young family to enter the housing market. The concept is that young families don't have as much savings so they cannot afford a bigger home. However as they progress in their careers and save more money, they can eventually upgrade to a larger home for their family.
You need to read or broaden your circle a bit.
@@KK-pm7ud so it's just a home. A home is a huge investment. Diminishing an achievement like buying a house by saying it's a starter home is dismissive. I'd be offended af if someone referred to my house as a "starter".
Me: welcome to my house
Them: o this is a nice starter house
Me: excuse me?
@@KK-pm7ud shhh you brought nothing to the conversation
@@xray5043 You seem to need reassurance that you're intelligent. I hope this comment brings you peace.
What this means is that the corporations can borrow money cheaper than residential home buyers. Same problem with corporate farms versus the family farms.
they can. I read that they can borrow at like 1-2% interest.
And they can often buy all cash, which allows them to swoop in as soon as a property is listed and lock in the sale before someone who needs a mortgage to purchase. I’m in an area with few rentals and that keeps the rents reasonable and the neighborhood nice.
I worked at Progress Residential... They told us not to notate accounts because when they get sued the court can subpoena the account notes. That's just one.... I was shocked how shady they were so I quit after 8 months.
Also guess who their investors are... Foreign investors from Saudi, Japan etc .....
That’s so horrible. You did the right thing. If only our congressman would stop them.
@@faerydae29 Sadly I doubt it will happen anytime soon... Progress's parent company (pretium) just acquired BH as well this week. They are getting bigger and bigger and with BH, they just tapped into Multi-family and STUDENT housing! ridiculous
When I was at Ashton Woods yall bought ALOT of homes from us. We had one community where we presold all the homes at a locked in price before even building them. What was annoying is that the property manager would talk to me as if I worked for Progress or owed here explanations.
To the guy who said "If you need a new roof you call em and they take care of it."
Ive rented from these companies in the past, youre in for a rude awakening when the time comes champ.
Thanks for covering this
Who was the fool they interviewed saying if u need a new roof call the rental company. Yeah rental companies always rush to fix broken things in houses. Bs.
They cut him off mid sentence too 😂
And it’s like a new house shouldn’t need a new roof 😂
Yeah it's like if have accident and call your insurance that you paid for years suddenly your insurance skyrocket or even dropped all together 😂
@@Bekssss I don’t get it. People don’t wanna own cause they are afraid of repairs but a well built house really isn’t that bad imo
I still can’t believe that SO MANY homeowners were willing to sell to corporations 🤦🏾♀️🤦🏾♀️🤦🏾♀️. This was foreseeable.
Lol someone comes to you with a pile of cash and you do what, laugh at them and say "I am not willing to sell to you, you evil corporation, I would rather sell to Joe Blow for 20% less"?
Most of the homes and communities were what the video stated build to rent. Developers built the neighborhoods and sold the entire neighborhood as a portfolio to the corporations.
Not necessarily. There are thousands of wholesalers/real estate investors. Most people deal with the middle man and never with the end buyer. Plus people financially desperate (or wanting to benefit from the real estate boom of 2020-2022) sold to get the money without the bigger picture.
@@lewisstretchThey weren’t all build to rent. I spent 2yrs being outbid by these corporations on pre-owned homes. Hard to compete with companies offering $50k and above over the asking price combined with first class tickets to the caribbean islands. They offered wild incentives and what seller’s gonna turn that down.
@@blackdonte24 True. I've been getting outbid for the past 2 years. Three were over 60k over asking. I don't have that kind of money.
Every new neighborhood near me in north Atlanta are 1M+…. Who TF would spend that much to live here…. They ruined housing. Period
I passed by some new townhomes being built the other day starting from $800,000 over in Dunwoody there ya go 😂.
Boycott the rental homes. All 30k of them.
This is why housing is so expensive
its also why rents are so high, and why property taxes are increasing.
Thanks for exposing this. This has slowly been happening and definitely needs to be addressed by our lawmakers to help protect the average Americans dream!
Yeah right don't hold your breath on that one
There needs to be a law limiting the amount of leased homes in a residential area.
This is a problem across the country with the jacked up rental prices. I believe this should be invest investigated.
Government continues to allow this. It's disgusting!
And yest big real estate investors like Trump who owns several communities such as the above mentioned seem to keep getting votes from people who don't seem to want to allow this exact thing
Still haven't figured out that they have sold out have you? Why do you think the Chinese own thousands of acres in property on U.S. soil?
Thank you for shining a light on this issue. I worked for one of those companies and realized my values did not align with what I was being asked to do so I left. People need to be educated that when they sell their home to an institutional investor it does not help the neighbors who they leave behind. Their quick all cash offers make sellers greedy but makes neighborhoods worse and does not allow the next person to buy a starter home in a decent neighborhood. Also, there are whole Built For Rent (BFR) communities sprouting up all over the country. These companies magnanimously think they are doing 'poor' people a favor but all they are doing is driving up rents and making home ownership unaffordable for everyone.
Thank you for speaking up
I live in the Raleigh-Durham, NC area and it is the same around here. What's worse is these corporations constantly calling trying to buy my house! Many other homeowners I know get these same calls or letter offers via mail.
My company was building whole neighborhoods for these companies. Thankfully it seems we are moving on from that.
I sold 3 homes last year and made sure I sold to 1st time homebuyers.
The process takes longer but you feel amazing helping someone change thier family legacy.
The corporations can’t buy anything if YOU don’t sell it to them. You’ll complain now but if you were an owner ready to sell your home
you’d take the cash from the big corporations vs being patient with a 1st time homebuyer. People complain but deep down don’t care enough to sell to a 1st time homebuyer.
THAT and corporations will offer more. Most won’t take asking price if they can get 10K over asking with 1/2closing costs and ZERO demands.
But karma is a B. What goes around comes around. Those same sellers will themrselves be affected by these monopolies when they or their kids try to purchase a home in the future.
Absolutely! Thanks for being part of the solution
God bless you. That's a really noble thing to do. Makes such a difference in a life.
Bravo to you! When I purchased my first home, I was a young, 20-something, single woman trying to make my way in a big city. The home seller chose to sell to me instead of taking higher offers. I was so grateful. When I sold it, I also sold to a young 20ish, single woman. We all have to look out for each other.
This should not be allowed! Period!🙄😒😒
Its because Atlanta area has nothing but suburbs not neighborhoods.
Ummmm, wake up!
This is happening in most metro areas!
And if it isn't companies doing this, it's landlords doing the same thing: flipping to rent out, or turn into an AirBnB.
You will own nothing and be happy.
That’s the way it works in china 😂😂
Ppl over there don’t actually own there homes they pretty much rent their whole lives from the government
@@comp.eng.student2055nice one!🔥
Exactly what's going on
Eat bugs and live in the pod!!
Owe nothing you'll be happy.
This is the part where the government actually needs to come in and act upon this.
How can this be right? Smh
Brother is seriously naive!
Slave mentality still exists
And it had to be a brother just bucking his eyes 😂!
That was the saddest part of the story, a sellout. Smh. Why did he even have to respond?!
They knew who to pick and show on tv
Brother was probably seriously compensated.
Back in the day you had to live in the home that you bought in Atlanta. It used to be they didn’t build on less than 1 acre. Somebody pockets are getting filled. This is a government issue. I hope I’m safe after making this statement.😅
Now you on the FEMA red list 😈👹😈
Man the day of 1/2 acre lots are gone. In 2000 you could get a 1/2 home in an upscale area for like 250-350K, and an entry level places 150-170K new construction. Now you can't even build a home under $200K
there should be a LAW against buying a Residential Home unless you are LIVING in it ..... just like you can't insure it unless you are living in it ??? what the heck?
Government needs to end this immediately
Most of the homes that are on the market today are extremely over priced. Now you know why
I’m surprised society lets this stand
Capitalism.
@@comp.eng.student2055 so not capitalism
The rich corporations play both sides to their win.
The right - Capitalism! no regulations! let business do what they want!
The left - For the environment, we need exactly what landlords love. No garages juts bike racks, no yards to maintain, no grass to water, and corporate ownership of high density apartments instead of owner-occupied houses!
@@aminy23 you can own a condo, single family houses can be owned by corporations.
@@comp.eng.student2055 Yet here we are and you know what we are going to do about it? Comment on this website and the fuckery will continue, but yeah I agree with you 100%.
GREED!!!!!
The same thing is happening in Phoenix and Scottsdale, they buy the starter type homes make them fancy and lease them sometimes resell them and often times turn them into AABs that end up ruining neighborhoods. My parents have four ABBs within 100 yards of their front door, party houses.
You need a new roof?!! Dude that 25 years down the road! 😅😂😮
LOL yeah I though that was hilarious.
That's why he isn't a homeowner! Just a renter who has NO CLUE
Atlanta leads the country in corporate-owned homes?! If the home prices were more affordable, the tenants would rather buy than rent! This stinks!
In a shared house with family members or friends, I see plenty of residences in Atlanta on a quiet street with bus stops, for under $130k per bedroom bathroom suite. This can easily be affordable in cash no mortgage in a few short years if willing to double up on jobs. ❤
They lost homes when the crash happened in Atlanta because they were living above their means and wells Fargo was given them loans tht they shouldn't have, this is what you get voting Demoncrats
@@economicdevelopmentplannin8715
umm noone wants them to move around them...are you serious?!!🤦🏾♂️
@@GenX7119 85% of people don't live alone. So this plan works for the majority of people. This plan works for people who can't yet afford what they want, but are willing to work and sacrifice to reach their goals
There is no way this is accurate! I live in Tampa Florida corporations have bought all the affordable homes in the area including multiple trailer parks in the trailer parks they move in purchase the land and then Jack the rent up by not 50 or $100 but by 4 or 500 hours and then tell the people that are renting that you need to buy the trailer in order to stay but that's not all if you agree to buy the trailer you still have to agree to pay their outlandish lot rent every month which is the same price as a damn mortgage on the trailer or even a home. And people have no choice because the trailers are too old to move or way too expensive to move. So they talk vulnerable people especially those on fixed incomes to buy a dilapidated trailer for 2 to 6000 then make them pay the lot rent of 8 or $900 every month even after they own their trailer and if you can't pay it they can evict you and if they evict you they know that you can't afford to move the trailer or that it can't possibly be moved so then they gain the trailer back by default and move on to the next unsuspecting vulnerable person that has no choice unless they want to be homeless and do it all over again all while flipping Matt mobile home over and over and over and over again non-stop just lining their pockets what's absolutely no moral standards it really is sickening! SMFH!!!!
From an economics perspective, this is actually incredibly disruptive to the natural law of supply and demand in the housing market and preventing prices from going down like they should.
This is the type of reporting we need to see much more of. Geeat job here!
Apparently Lamar doesn’t understand how this works. You have renters, they don’t own there own home and you have buyers. These investors are able to make people like Lamar pay their mortgage.
He also thinks they will give him a new roof. I don’t see these corporations giving a damn about the condition of the homes. They will be poorly maintained to maximize profits.
@@samanthaparker836 exactly and if an expensive repair is needed they may just elect to not renew the lease and you are forced to move. It’s not like they are giving rent to own options.
Too late. The damage is done.
Chiming in from New Mexico: I live in and am on the board of a small (100 units) gated HOA community. Gated, private roads, private water, etc. We just put into place a maximum allowance of seven total units being used as rentals at any time. Prior to having taken this action, one person bought two units with the intent to use the second unit as a rental. Within a month of making this rule, a real estate investment group made contact with inquiries on additional properties (none currently exist), asking to be noticed about listings. They were shocked when told that rules cap the amount of rentals allowed and this rule is in compliance with state and federal law. Not a fan of HOAs in general, but NIW and then, they get something right.
Yes… it’s killing us here in Clayton. County
Greed is the root of all evil
Control, Control, Control The government needs to slapped with the biggest lawsuit. This is the rich companies staying rich by unfair monopolization practices.
Happening big time in Gwinnett county too. 3 homes just on our street have been bought by these companies and are now rented. The value of our home has more than doubled in only 6 years and as a result so have our property taxes. Prior to the mortgage rates increases we were getting 20+ calls per week from real estate investment companies wanting to buy our house.
Vote in 2024 remove greedy politicians
There is no one to vote for. Both sides are greedy politicians.
This is going to create a huge problem for the economy if something isn’t done about this. As more and more of our incomes go to housing, that is less that can be spent elsewhere. This is going to increase the gap between rich and poor even more because homeownership is many of Americans biggest investment.
Mission accomplished
Not sure how you expected a necessary reset of this country to happen, but looks like this is part of the process.
These are front companies that are under huge corps such as Blackstone
No they're not.
This is happening all over the country
People should make a list of these corporate homes and make a serious effort not to rent there. And see what they do.
You can’t buy you can’t rent
The home is a sacred place
for investors
Unfortunately nothing is sacred anymore. It's all been destroyed and gutted
Where did they find that guy? Go have a seat because this injustice is so much more complex than "needing a new roof"
Corruption at it's finest!!
Taxes! Taxes! TAXES! Housing should not be for profit. Humans need homes!
Exactly people basic needs should not be for profit (food, clothing, and shelter)
Yep, but the inhumane are calling the shots!
Just pass a law regarding non owner occupied houses. If they pay thousands in taxes on every house they will
Quit.
It’s that simple!👏🏾👏🏾
Local legislators are complicit and apart of the problem.
This is just sick. I can’t even watch. Why does our government continue to allow this?
Another potential problem is the tendency to share all the data and metrics to justify their market pricing, position, and portfolios.