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, 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. So many more buildings in cities are rented out as a result.
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.
You provided no evidence to dispute my source saying it’s .2%, and are now distracting from my initial point which was that the actual statistic is extremely low.
I think it’s safe to assume that I’ve proven my point and that you’re now just trying to save face or evangelize your political position with zero real evidence. Whatever floats your butt.
Also please cut it out with the insults, it’s hurtful. I’m human too, you know. You calling me names isn’t helping convince anyone outside of your doomerist echo chamber.
You don’t seem to get what I’m saying. You’re just citing more and more doomerist propaganda.
Here’s a wild statistic for you: locally, 100% of houses in this area are owned by a single person. Isn’t that insane? So by comparison, Atlanta is actually pretty low.
Is there an issue with my stat above? Well, guess what, that’s the same issue with your local stats. They sound large, but you need to account for the larger context or you’ll just be citing meaningless numbers.
That’s a bad-faith comparison and shows you are unserious about the very real issue some localities face with investment firms holding “cheap” single family homes as indefinite rental income, or just butthurt my data disproved your application of a BROAD GENERALIZATION to a specific region. Likely the latter.
No, you’re putting words in my mouth. I never said that local monopolies weren’t a problem. They can be and often are a problem.
All I said was that the actual statistic is much lower, and pushed back against your claims when you said I was wrong. Now that I’ve proven you wrong, you’ve walked back your claims and moved the goalposts to distract from the fact that you were initially wrong. You’re clearly getting defensive. Ffs just admit you were wrong.
This is doomerist myth. It’s a miniscule fraction, go look up the actual numbers. Landlords selling their properties would be very good for everyone.
I know your post is a joke, but doomerism just builds complacency and we should all be pushing for better.
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, 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. So many more buildings in cities are rented out as a result.
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.
You provided no evidence to dispute my source saying it’s .2%, and are now distracting from my initial point which was that the actual statistic is extremely low.
I think it’s safe to assume that I’ve proven my point and that you’re now just trying to save face or evangelize your political position with zero real evidence. Whatever floats your butt.
Also please cut it out with the insults, it’s hurtful. I’m human too, you know. You calling me names isn’t helping convince anyone outside of your doomerist echo chamber.
0.2% nationally != 0.2% locally.
https://news.gsu.edu/2024/02/26/researchers-find-three-companies-own-more-than-19000-rental-houses-in-metro-atlanta/
Link to the research: https://www.tandfonline.com/doi/abs/10.1080/24694452.2023.2278690
Read it for yourself.
You don’t seem to get what I’m saying. You’re just citing more and more doomerist propaganda.
Here’s a wild statistic for you: locally, 100% of houses in this area are owned by a single person. Isn’t that insane? So by comparison, Atlanta is actually pretty low.
Is there an issue with my stat above? Well, guess what, that’s the same issue with your local stats. They sound large, but you need to account for the larger context or you’ll just be citing meaningless numbers.
That’s a bad-faith comparison and shows you are unserious about the very real issue some localities face with investment firms holding “cheap” single family homes as indefinite rental income, or just butthurt my data disproved your application of a BROAD GENERALIZATION to a specific region. Likely the latter.
No, you’re putting words in my mouth. I never said that local monopolies weren’t a problem. They can be and often are a problem.
All I said was that the actual statistic is much lower, and pushed back against your claims when you said I was wrong. Now that I’ve proven you wrong, you’ve walked back your claims and moved the goalposts to distract from the fact that you were initially wrong. You’re clearly getting defensive. Ffs just admit you were wrong.