By Stephen Deere, The Atlanta Journal-Constitution
(CNT) City News And Talk #atlanta-ga
The city of Atlanta could soon outlaw predatory tactics of investors who coerce longtime residents into selling their homes.
Atlanta has seen home values rise by as much as 50 percent over the past decade, according to an ordinance that the City Council’s Public Safety and Administration Committee will consider today.
And some residents in poorer traditionally Black neighborhoods have received a barrage of offers from investors to purchase their property. The homeowners often do so at below market rates.
The proposed ordinance, sponsored by Councilman Matt Westmoreland, would make it a misdemeanor for anyone to repeatedly contact a homeowner to buy their house within a six-month time period when the homeowner has asked them to stop.
This story will be updated after the council’s 2 p.m committee meeting.