7 years ago
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Landlords Are Taking Over the U.S. Housing Market
As rising home prices, slow new home construction, and demographic shifts push homeownership rates to 50-year lows, the U.S. is increasingly a country of renters—and landlords. Last year, 37 percent of homes sold were acquired by buyers who didn’t live in them, according to tax-assessment data compiled in a new report published by Attom Data Solutions and ClearCapital.com Inc.
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This is a major problem we've been seeing as a suburb of Atlanta, almost every house that goes on the market is bought up quickly by a homeowners group, our HOA has about 3 people that have bought a majority of the units and the rent has gone from 650 about 10 years ago to over 1000 now and since those 3 own so much of the HOA they get whatever they want and blocked a plan to try and make it so only so many houses on the road were rentable.