The Impact of Non-Owner Occupied Homes: Why Homeownership Matters
According to the Atlanta Federal Reserve, non-owner-occupied single-family residences are projected to increase to 46% by 2030. This shift in the housing market could significantly impact renters and community members in several ways: Key Trends Expected with More Non-Owner-Occupied Homes: Frequent Rent Increases: Landlords may prioritize profits by increasing rents more often, placing a financial strain on tenants. Short-Term Ownership: Properties may be bought and sold quickly, leading to less stability for renters. Quicker Evictions: Short-term owners may prioritize profitability over tenant stability, resulting in faster evictions. Reduced Maintenance: Non-owner-occupied properties often see less maintenance, impacting the quality of living conditions. Profit Over Service: Expect fewer amenities, such as parking and storage, as landlords focus on maximizing profits. The Financial Cost of Renting As annual living expenses rise, renting becomes increasing...