In an exciting week for Atlanta as the city was named one of 15 cities across North America to host the 2026 men’s World Cup, Mayor Andre Dickens is working to improve the day to day for Atlanta residents, not just bring in big events.
First, Dickens hopes to address the investor-owned home issue in Atlanta. Approximately a third of Atlanta area homes for sale in the first quarter went to investors, the highest share among 40 metro areas tracked by real estate company Redfin. Despite a short slowdown after some technical glitches, Zillow is back to buying, one of several real estate-focused tech companies creating waves in the market with algorithms that can trigger purchases. Much of the time, these firms flip the properties, often selling to other large scale investors based on Wall Street.
Data from Redfin shows that Atlanta area home prices are up 14 percent over the last year, with a median price of more than $425,000.
There is concern that this kind of institutional investor purchasing can skew the market away from lower value homes as it drives up prices, making homeownership harder for individuals and potentially very difficult for first time buyers. Mayor Dickens told Bloomberg that he would like to see restrictions on investors like this who are surging housing prices. Dickens pointed to the Community Reinvestment Act and its focus on encouraging banks to be open to all borrowers.
The problem is nationwide but a difficult one for the federal government to tackle, what with the complexity of the issue and perhaps it being an election year. Simple agency-directed regulations are unlikely to be held up or attempted, as an act of Congress might be required.
Second, in a move to address worries over public safety and morale in the police force, Mayor Dickens announced raises or bonuses for the city’s police force and pay increases for other city workers.
“Since my first day in office, I have prioritized supporting the women and men who serve our City residents,” said Mayor Dickens. “These pay increases are in recognition of the enormous dedication our police officers, firefighters and other frontline workers have shown to Atlanta.”
The pay increases will be in the form of a one year bonus, in the midst of a full pay and class study to be conducted over the course of the next year. Atlanta Police Officers, Investigators, Sergeants and Lieutenants will receive a $4,000 retention bonus, an incentive to stay on for at least 18 months. That is in addition to a 2 percent cost-of-living increase in Mayor Dickens’ proposed budget. Police Captains, Majors and Chiefs will also receive a $1,000 retention bonus.
All emergency first responders, including police, fire, corrections and 911 operators will receive a $1,000 bonus awarded through a state program.
After some tension with the city over the past few years, the move is unsurprisingly receiving support from local police unions.
“In his first five months in office, Mayor Dickens has shown that he understands the importance of recruiting and retaining qualified Police Officers,” said the Executive Board of International Brotherhood of Police Local 623. “We appreciate his Administration’s commitment and look forward to a continued collaborative relationship as we further our shared public safety goals.”
