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This article made its rounds in the Atlanta subreddit and everyone was predictably outraged. But it fails to answer the most basic question. Is the percentage
by treis 4y ago
This article made its rounds in the Atlanta subreddit and everyone was predictably outraged. But it fails to answer the most basic question. Is the percentage of homes owned and rented out going up or down? Because nationally it's not and the % of owner-occupied homes is more or less the same as it was in 1960.
The article doesn't address the Elephant in the room. During COVID courts shut down, evictions were banned, and some people stopped paying rent. That obliterated small time landlords who depended on rent to pay their mortgage.
The ones that found themselves in that situation had no real choice but to sell. And lots of other landlords who saw that happening also decided to sell. In that scenario who else is going to buy these homes except for large corporate buyers? Owner-occupiers can't get a mortgage on a house with a tenant in it and capital for small time landlords dried up.