Posted on 03/06/2024 11:59:14 AM PST by ChicagoConservative27
Your comment made me laugh : )
That’s ironic, they own hundreds of politicians to.
We were offered way over asking price for my FIL’s house by some corporation (Atlanta suburb) but we went with a couple instead. We lost money on that deal, but I had already been reading about this.
I wish more people would do this, but sadly, most won’t bat an eye.
“My theory - based on what I’m seeing in my own area - is that the corporations are buying homes and renting them out until they get enough contiguous properties to tear down the houses and build large apartments and condos, with maybe a few townhouses thrown in. I’m seeing that near me, with many single-family homes now serving as rooming houses UNTIL they are demolished for high-rises. Klaus Schwab’s transformation to a society of renters is well under way.”
No. They started the buying as the mortgage rates started going up, as the Fed raised it’s rates. Why? They don’t pay mortgage rates for what borrowing they need, if they do not have the cash, so their financing costs, if they have them, are less than the personal homeowners. They buying has removed what would otherwise have been still availble housing for sale, and helped maintain or boost housing prices, when the credit crunch should have had them falling more. The companies will hold onto the properties until mortgage rates go back down, which will increase buying demand and boost housing prices - and profits to the companies.
In some markets these corporate buyups are raising the prices current home buyers would otherwise be getting, because of how much inventory they are removing from the market for now.
If governments want to stop this
Regrettably - the "Law of Limited Information" is still being rigorously enforced.
I spent 20 minutes clicking on Bing and Google, and I still cannot find the number of single family homes in metro Atlanta.
So, I will share what I did find, and try to extrapolate.
There are 2.2 - 2.4 million "Housing Units" in metro Atlanta.
"Housing Units" include all rental apartments, all rental homes, and all owner occupied units.
Nationally, about 50% of USA residents live in a rental apartment or rental home.
So, 19,000 homes owned by three corporations is probably less than 2% of the total metro Atlanta rental market.
When you consider the massive headaches and massive liability involved in the residential rental business, I am surprised that only 19,000 homes are owned and managed by large corporations.
Good to hear and I wasn’t kidding.
Crony capitalism?
Could be dealt with easily if the state Congress drafted a bill, passed a bill and POS Kemp signed it. Take away the business and force them onto the trash heap.
But, sadly the state legislator is corrupt to the core, the city councils & county commissions are corrupt to the core, city and county governments bureaucracies are corrupt, kind of, across the state.
But, of course, the Governor is an absolute POS who his controlled by Hollywood scum of the earth, battery and EV makers, developers, Big Ag, and perhaps, Loeffler’s husband.
Other then that no.
The rest of the world has that rule and it seems to work just fine.
If you come to Newton County, a ton of small houses, on small lots for homes well into the $300s.
More apartment complexes, attached single story homes and townhouses....all rentals.
And, what was still kind of rural and slow, hotels popping up and all sort of fast food places.
County commission as crooked as it comes, city councils not far behind.
You will own nothing and like it.
No… this is the WEF plan to ensure you own nothing. Feudalism is back in style. Who do you think has been paying cash for 1.5 million dollar 3bed3bath homes on 0.8 acres? The Blaze investigated this a while back too.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.