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GA HR656
Resolution
Status
3/20/2025
Primary Sponsor
Phil Olaleye
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AI Summary
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Creates a seven-member House Study Committee on Expanding Home Ownership Opportunities for Georgians, appointed by the Speaker of the House, to evaluate housing stock and recommend legislation
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Addresses concerns that Georgia ranks as the most at-risk state for housing market disruptions from private equity investment, with three corporate landlords owning over 19,000 homes (nearly 11% of single-family rentals) in metro Atlanta's five largest counties
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Notes that out-of-state institutional investors own 30% of all single-family rental properties in Atlanta and are expanding into suburban, rural, and coastal counties
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Cites median home price increases from $132,000 in 2013 to $320,000 in 2023 and $360,000 in 2025 as evidence of declining affordability
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Committee members receive allowances for up to five days of meetings, must file a report with the Clerk of the House, and the committee will be abolished on December 1, 2026
Legislative Description
House Study Committee on Expanding Home Ownership Opportunities for Georgians; create
Last Action
House Committee Favorably Reported By Substitute
3/3/2026