Real Estate Investor Magazine South Africa Real Estate Investor Magazine - May 2017 | Page 54

ATLANTA
Hot Tips from Atlanta
Renter Population Expected to Grow
BY RJ PALANO
T
he good news across the United States is
that the housing recovery is well underway,
though there remain pockets of unstable and
distressed markets.
Georgia was one of the states hardest hit when
the housing market tanked in 2007‒08 under the
weight of subprime mortgages run amok. But now
it is recovering nicely, offering potentially high ROI
especially for single-family residential investment
properties in major urban areas like Atlanta.
According to leading U.S. housing data provider,
RealtyTrac, Atlanta’s foreclosure rate in late summer
2006 was three and a half times the national average
and second highest among the nation’s 10 largest
metros.
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MAY 2017 SA Real Estate Investor
The downturn meant many homeowners were
suddenly upside-down on their mortgages. Many
lost their homes to foreclosure while others walked
away, swelling the ranks of renters, many of whom
prefer single-family homes to apartments, condos and
multifamily units.
Investors played a big part in the market’s rescue,
buying up real estate owned and distressed properties,
and a buy-and-hold strategy served them and their
tenants well. When institutional investors descended
and started buying in bulk, the smaller investors
found shrinking opportunities. Now the big players
have largely exited the market and investors are
finding success with both buy-and-hold and fix-and-
flip strategies.
www.reimag.co.za