No, it is not regulation, but greed. There are more apartments being built than ever in Atlanta. They are more cheap and flimsy than those of any earlier decade, giant five-story wood-framed firetraps, each apartment renting for over $1600/month, often for $2000/mo.
To show how great the difference is, by comparison, in 2003, for $120k ($200k in today’s money) I bought a 7th-floor 1BR condo, completely gutted and remodeled to my specifications, in a solitary concrete-construction high-rise built in the '60s on a hill in the best area of town, Buckhead, on Atlanta’s main street (the Peachtree St., there’s about 30 others of the same name) with a magnificent view - a sea of trees running out to the clustered skyscrapers downtown, with a supermarket, hardware store, cafe and restaurant across the street, my job and most of the best restaurants in the city within a mile. That, including all fees, cost under $1000/month, $1600 in today’s money, the same as the average Atlanta apartment rent today. I’d have about $150k in equity ($625/mo.), and would have been able to take about $10k off my taxes, too. Today’s renters don’t get that for their average 1BR sheetrock sh!thole in a run-down 1000+ unit, 320-acre complex or half-gentrified ghetto, costing them over $22,500 per year in pretax income.
Gavin wrote:
“There are many people ahead of landlords when it comes to apportioning blame .”
I mentioned
True, I mentioned employers paying below subsistence wages (less than slave wages), those employers’ pet state agencies, and later banks as my targets for civil RICO suits. It’s hard to compress over 100 pages of code and briefs into a pithy statement, but under Georgia law:
it is a felony and a tort to own or control anything through repeatedly causing or threatening financial harm to a person who has trouble paying rent.
Let that sink in: it is literally illegal for them to own anything.
In the language of the statute (Ga. Code 16-14-4 (a)):
It shall be unlawful for any person, through a pattern of racketeering activity or proceeds derived therefrom, to acquire or maintain, directly or indirectly, any interest in or control of any enterprise, real property, or personal property of any nature, including money.
Violations of 16-5-100, 101, 102, & 102.5 are defined as racketeering activity. That section covers, among many other things, exploitation, abuse and trafficking of anyone over age 65, or over 18 with an impairment substantially affecting ability to provide necessities of life such as shelter. Exploitation, abuse and trafficking are quite broadly defined, e.g. “coercion” is a listed means of exploitation and trafficking, and “causing or threatening to cause financial harm” is a listed definition of coercion in the statute.
Lest you think I’m straining here, there are hundreds of valid ways to charge employers, landlords, and government agencies just under this abuse of the disabled statute. There are dozens of other statutes that are predicate offenses under just the Ga. code, dozens more incorporated from the federal code, and thousands more incorporated from the laws of other states, territories and possessions.
None of these underlying offenses have to be charged!
None of these offenses have to be proven to criminal standards!
Civil RICO can be brought by ANYONE!
Hypatia wrote:
"S’why I think a federal cap on rents will result in fewer, not more, rental units available "
I agree, but that was not the original issue you brought up, which was:
“the federal lawsuit brought against the maker of the software landlords can use to gauge what rent the market in their locale will bear”,
which was itself a tendentious way of defending an illegal price-fixing cartel making it impossible for much of the American people to afford housing, apparently on the theory that a few criminals’ interests in extorting enormous unearned profits outweigh the interests of the majority of people to sleep indoors and to not have such crimes committed against them.
Criminals such as my old landlords, King Rook Capital’s partners, Israeli lawyer and investment advisor to “global institutional and high-net-worth clients”, Mor Assayag,

and Jewish South African ex-Glencore Switzerland ($73B market cap., #20 in world; originally Marc Rich + Co, yes, mafia Marc of the Clinton pardon) senior partner David Issroff.

In 2012 KRC purchased this 216-unit apartment complex in a slum so bad that one of the scariest people I have ever met, an “ex” crackhead paroled on a life sentence, refused to live anywhere in that neighborhood for FREE.
4565 Covington Hwy Decatur, GA 30035

(I don’t know this complex, but I’ve seen many of the type, it’s a lot worse than it looks in this picture.)
KRC spent about $2,300 per unit on “capital improvement to enhance the physical characteristics of the property through a detailed renovation program”. They sold it 10 years later for a 10.4x equity multiple, Realized IRR: 40%.
I hope you agree that such foreign racketeers have no business even being in the US, let alone owning property, still less extorting and exploiting Americans, or harboring and probably also employing and trafficking hundreds of illegal aliens. (Not to mention reinforcing antisemitic stereotypes, but that’s for Jewish people to police.)
What landlords like this are doing is illegal in many different ways. I mentioned some above. I hope to sue under RICO and literally take everything they have or had or ever will have.
But first I’ve got a franchised “non-profit” employer to go after under RICO, the Atlanta-area “independent subsidiary” CEO pays himself over $1M a year, and the “charity” has amassed over $100M liquid assets from exploiting the disabled just in Atlanta-area stores. After that, there’s other defendants to prioritize: DOL, SBWC, GAA, etc.
This requires significant amounts of lawyer time and other expenses. I’ll do what I can do pro-se if I have to, but it’s not the best way, and pro-bono or contingency arrangements are a lot to ask in cases like this, regardless of facts or law or connections.
