ATLANTA (AP) - Real estate experts say investment companies are taking advantage of low home prices in the metro Atlanta region and have purchased nearly 40,000 of them in the past 18 months.
The Atlanta Journal-Constitution (http://bit.ly/14TqAOP ) reported Sunday that data from real estate data website RealtyTrac shows 13 of the top 25 counties nationally where institutional investors have made the greatest impact on real estate markets are in Georgia. The top six counties are all in the metro Atlanta region.
The newspaper reports investor owners are capitalizing on a large supply of cheap homes that were left throughout the region after the economic downturn.
RealtyTrac Vice President Daren Blomquist says the spike in investor owners is concerning, because their buying practices are similar to those that led to the initial housing bubble.
Information from: The Atlanta Journal-Constitution, http://www.ajc.com
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