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Economics

Atlanta’s Real Estate Boom Forces Locals to Live in Extended-Stay Hotels

The tech boom led investors to buy thousands of homes, pricing out home buyers and now the city has one the highest density of extended-stay hotel rooms in the country.

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Housing Markets Are Bubbling All Over the World

Shavetta Simmons loved the house in Lawrenceville, Georgia, where she lived much of the past two years, but couldn’t afford the $2,000 monthly rent anymore, with utilities piling up. She moved out, stayed with family for several months, and finally took refuge in a single room extended-stay hotel in an Atlanta suburb.

Simmons is one of a growing number of residents priced out of the red-hot housing market in Metro Atlanta. The city has one of the largest concentration of discount extended-stay accommodations in the US - hotels initially designed for traveling workers needing temporary lodging, but are increasingly being used as permanent housing for low-income workers. In a sign that more families are forced to cram into one-bedroom units for long periods: local school districts include stops at the hotels in their bus routes.