Senator Raphael Warnock is once again addressing the issue of corporate-owned housing in Georgia.
Senator Warnock spoke out against private equity and large corporations buying large numbers of single-family homes in the state. The problem is growing in Georgia, with more than a quarter of single-family homes, or some 70,000 properties, owned by corporations. The Senator said they are squeezing out first-time home buyers.
“Private equity and major corporations have been buying up thousands of single-family homes that should be available for Georgians who want to purchase a piece of the American dream,” according to Senator Warnock.
In March, Senator Warnock pushed the bipartisan ROAD to Housing Act, aimed at banning mass purchases while strengthening housing reform and affordability. Housing Act strengthens housing reform and affordability.
“I negotiated a provision in the largest bipartisan housing package in a generation that will put a stop to this madness by preventing institutional investors from purchasing massive amounts of single family homes in Georgia and all across the country,” he said.
Warnock’s remarks came during a media conference in Paulding County on Thursday.
