𝐀𝐭𝐥𝐚𝐧𝐭𝐚 𝐡𝐚𝐬 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐜𝐨𝐧𝐜𝐞𝐧𝐭𝐫𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐜𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐥𝐚𝐧𝐝𝐥𝐨𝐫𝐝𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐜𝐨𝐮𝐧𝐭𝐫𝐲. 𝐋𝐨𝐜𝐚𝐥 𝐠𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭𝐬 𝐬𝐭𝐨𝐩𝐩𝐞𝐝 𝐰𝐚𝐢𝐭𝐢𝐧𝐠 𝐟𝐨𝐫 𝐖𝐚𝐬𝐡𝐢𝐧𝐠𝐭𝐨𝐧. Over 30% of single-family rentals in metro Atlanta are owned by institutional investors. Blackstone, Progress Residential, Amherst Holdings. Paulding County imposed a moratorium on new rental subdivisions in 2021. Median home prices there jumped 50% since 2020 to $390,000. That’s 17 points higher than Georgia’s statewide increase. A local agent watched clients lose three straight bids to all-cash investor offers, even when they offered more money. Sellers couldn’t resist instant cash. Other cities tried different approaches. Alpharetta set a 68% owner-occupancy floor. Fishers, Indiana capped rentals at 10% per neighborhood. Clayton County pushed for permanent bans. The investor defense doesn’t hold up locally. Amherst’s CEO says blocking investors won’t help affordability because their market share is too small. He’s right nationally. The top 24 institutional owners control just 3% of single-family rentals. But ZIP code-level concentration is different. Some neighborhoods hit 50%. A Georgia Tech study found heavy investor purchases cost Atlanta $4.9 billion in lost home equity. Over two-thirds hit Black households. Georgia Republicans just introduced a 500-home cap per business and proposed a constitutional amendment with steeper property taxes on large portfolios. One Atlanta build-to-rent developer admitted: “They’re going to have to” accept limits. When federal action stalls, local governments experiment. Some restrictions will fail. Some will get copied. That’s how you figure out what works. Atlanta became the testing ground because it had the worst problem. Now other cities are watching.​​​​​​​​​​​​​​​​ https://lnkd.in/eWbExY-U