Atlanta, Ga. — U.S. Senator Jon Ossoff is directing a top Federal watchdog to help solve the housing affordability crisis.
As part of his ongoing work to lower housing costs for Georgia families, Sen. Ossoff brought Republicans and Democrats together to require a Federal watchdog investigation into the housing affordability crisis and to help ID solutions to the crisis.
Last month, Sen. Ossoff brought both parties together to pass his amendment through the U.S. Senate Appropriations Transportation, Housing, and Urban Development (THUD) funding bill that directs the Government Accountability Office, a top Federal watchdog, to investigate large, out-of-state companies buying up Georgia homes and driving up home prices.
A prior GAO report last year found large companies owned 25% of single-family rental homes in metro Atlanta.
“Georgia families are struggling to afford homes,” Sen. Ossoff said. “As part of my ongoing efforts to lower housing costs for Georgia families, I brought Republicans and Democrats together to require an investigation to help solve the housing affordability crisis in Georgia with specific recommendations to Congress.”
The bipartisan Transportation, Housing, and Urban Development appropriations bill passed Committee and is now ready to move to the full U.S. Senate for a vote. The bill must first pass the full U.S. Senate and U.S. House before it could become law.
Sen. Ossoff continues working to lower housing prices for Georgia families.
In April, Sen. Ossoff launched inquiries with several of the top companies nationwide that are purchasing in bulk single-family homes across the State of Georgia, raising prices for families and reducing the supply of family homes available for purchase.
Later, Sen. Ossoff and Professor Dr. Taylor Shelton unveiled the latest data from Georgia State University that found the share of single-family rental homes in metro Atlanta owned by large corporations has now increased to 30%, including nearly 70% of single-family rental homes in Henry County alone.
In May, Sen. Ossoff heard testimony at an oversight session exposing the mistreatment and abuse of Georgia renters living in single-family homes owned by large, out-of-state companies.
Please find below the text of Sen. Ossoff’s amendment as passed in the Senate Transportation, Housing, and Urban Development funding bill:
Ossoff Amendment on GAO Report on Institutional Investment
In the report, on page 150, under the heading “Institutional Investment in Single-Family Housing”, insert the following:
“The Committee also urges the GAO to expeditiously complete the second part of the report on institutional investment in single-family housing as required in the joint explanatory statement accompanying Public Law 117–328.”
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