A recent study conducted by Georgia State University reveals a significant shift in Metro Atlanta’s housing market.
The research found that three corporations own approximately 19,000 homes across the region, representing about 11% of the available residential properties.
This phenomenon highlights a growing trend where companies, rather than individuals, are becoming predominant homeowners.
Impact on Starter Homes and Housing Prices
These corporations primarily target what were traditionally considered starter homes. Such homes, crucial for first-time buyers 15 to 30 years ago, are now predominantly available for rent rather than purchase.
This shift in ownership dynamics is transforming the housing market landscape, significantly impacting the availability and affordability of homes.
The concentration of ownership among a few corporate entities has led to increased housing prices and rental costs, making it challenging for individual buyers to find affordable deals.
The Companies Dominating the Market
The three major companies involved are Progress Residential, Invitation Homes, and Main Street Renewal.
