I understand that statistic sounds scary, but let’s actually look into it. The percentage country wide is .2%, so why is your stat so different? Source
For one, it’s a specific city and not the whole U.S or even all U.S. cities. This makes it likely it was cherry-picked by your source in order to increase clicks. One city’s data isn’t a representative sample.
There’s a lot of confounding issues when you pick one specific city to look at. For one, property management companies tend to serve specific areas, and are not US-wide. So those Atlanta companies likely aren’t institutional investors, just large local companies.
Additionally, many more buildings in cities are rented out than elsewhere. People in cities are often there temporarily for work, so many opt for apartments because the closing fees would cost more than the rent and interest when living there short term living.
Comparing across the nation doesn’t really matter in things like real estate where prices, inflow vs outflow of people etc vary wildly, particularly when talking about the actual impact on the average person within the locality.
“Cherry picked by source to increase clicks” what sort of landlord boot licking is this lmao. Amherst Holdings (owns almost 40,000 homes nationally), Pretium Partners (owns around 80,000 homes nationally), and Invitation Homes (also around 80,000 nationally) own through subsidiaries 11% of all single family homes across metro Atlanta for rental purposes.
This isn’t opinion or spin, it is fact.
Most of their ownership (9.2% of that 11%) is from houses in the lower half of median home value, effectively ripping those inventories out of the market for first time home buyers and inflating the price of those tiers of homes for first time home buyers.
Maybe you’re confused about what “Metro Atlanta” means. It’s not just the City of Atlanta. Metro Atlanta is spread across 5 counties, from the heart of downtown to some real yeehaw rural areas of the outer counties.
Idk, something like 12% of all metro Atlanta area homes are leased out by about 3 rental property companies. That’s a huge amount.
I understand that statistic sounds scary, but let’s actually look into it. The percentage country wide is .2%, so why is your stat so different? Source
For one, it’s a specific city and not the whole U.S or even all U.S. cities. This makes it likely it was cherry-picked by your source in order to increase clicks. One city’s data isn’t a representative sample.
There’s a lot of confounding issues when you pick one specific city to look at. For one, property management companies tend to serve specific areas, and are not US-wide. So those Atlanta companies likely aren’t institutional investors, just large local companies.
Additionally, many more buildings in cities are rented out than elsewhere. People in cities are often there temporarily for work, so many opt for apartments because the closing fees would cost more than the rent and interest when living there short term living.
Comparing across the nation doesn’t really matter in things like real estate where prices, inflow vs outflow of people etc vary wildly, particularly when talking about the actual impact on the average person within the locality.
“Cherry picked by source to increase clicks” what sort of landlord boot licking is this lmao. Amherst Holdings (owns almost 40,000 homes nationally), Pretium Partners (owns around 80,000 homes nationally), and Invitation Homes (also around 80,000 nationally) own through subsidiaries 11% of all single family homes across metro Atlanta for rental purposes.
This isn’t opinion or spin, it is fact.
Most of their ownership (9.2% of that 11%) is from houses in the lower half of median home value, effectively ripping those inventories out of the market for first time home buyers and inflating the price of those tiers of homes for first time home buyers.
Maybe you’re confused about what “Metro Atlanta” means. It’s not just the City of Atlanta. Metro Atlanta is spread across 5 counties, from the heart of downtown to some real yeehaw rural areas of the outer counties.