As CBS News Atlanta previously reported, more than one in four single-family rental homes in metro Atlanta are owned by large corporate investors — more than 72,000 homes — giving the region one of the highest concentrations of institutional ownership anywhere in the United States.
Housing advocates have argued that those companies can outbid families with cash offers, reducing the number of homes available to first-time buyers while contributing to higher home prices and rents.
Warnock has repeatedly cited those trends in pushing the legislation, saying corporate investors have increasingly treated homes as financial assets instead of places for families to live.
Are they stripping them of the ones they already have?
Hopefully they’re just being taxed at increased rates that make profit unviable and allows them to unload the houses normally. I don’t really know how the legislation works though.
This solution makes sense. They need to phase out the existing rules properly, no matter how wrong they were to begin with.
Tax them from 10% til 100% over 5 years, and let them sell off as they go through that time spand maybe?