ATLANTA — How do you put a cost to a community when homes are not owned by people but by corporations?
Georgia Tech Professor Brian An looked into that issue as part of a recent study
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Channel 2′s Michael Doudna spoke with An on WSB Tonight at 11 p.m.
Study finds Atlantan’s “lost” $1.25 billion in equity thanks to selling out to corporations.
“We did a study for Atlanta, and we looked at 95 neighborhoods. And we tracked the impact on those 95 neighborhoods over 12 years,” said An.
Atlanta saw an explosion in corporations and investors buying property shortly after the Great Recession. Another recent report found three corporations own around 19,000 single-family homes in the metro area
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“Atlanta is ground zero,” An said. “They tend to buy a lot of properties in minority-majority neighborhoods.”
The report found black majority neighborhoods were impacted the most, “losing” $681 million in equity and were much more likely to have corporations involved in home sales.
You can see the full study, here.
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