Meet the Faculty: Elora Raymond

Headshot of Elora Raymond in front of bookcase with urban planning books on the shelves
Wes McRae | Mar 31, 2023 — Atlanta, GA

Assistant Professor Elora Raymond (Ph.D. CRP 2017) is the director of the Ph.D. program in the School of City and Regional Planning.

"I study housing and real estate finance," Raymond said.

"Because housing is both a hugely important financial asset class, and also shelter, it's in this unique position," Raymond said. "You're able to explore all of the tensions in our current political economy just by examining housing."

"Large corporate landlords are able to borrow a billion dollars at 2%. How can a homeowner who can borrow $300,000 at 5% compete?”

 

Understanding impacts on housing can lead to better decision-making, Raymond said. "We need to craft policy keeping that real estate finance aspect in mind." In 2022, Raymond testified before the House Committee on Ways and Means and the Committee on Financial Services on the subject of institutional single-family rentals (ISFRs). "Large corporate landlords have been a growing presence in the single-family housing market in Atlanta since 2012," she said.

While the research is still being done, Raymond suspects that ISFRs are part of the reason prices rose so much last year. "Large corporate landlords are able to borrow a billion dollars at 2%. How can a homeowner who can borrow $300,000 at 5% compete?"

"They're crowding out wealth building and homeownership, particularly in predominately Black communities in Atlanta."

"I also think the problems that people are trying to overcome in Atlanta are very central to the story of America.”

 

Raymond said Georgia Tech's location offers exceptional access for her research. “I work a lot with the Atlanta Federal Reserve," Raymond said. "I've published a lot with them and am a visiting fellow there."

"They have a unique Community and Economic Development (CED) group. They do amazing work, and many of them are our graduates: Karen Leone de Nie (MCRP), Ann Carpenter (MCRP, Ph.D.), and Pearse Haley (MCRP) all graduated from this program."

The School's close connection to the metro community ties closely to Raymond's interest in policy. “I really love Atlanta. And historically, this program has been really engaged with the community and policymakers," she said.

"Our graduates work throughout the metro region in every position possible, so we're very connected to the city. It's a way to do meaningful work and have an impact."

Raymond also sees Atlanta as a hub of social improvement. "I really appreciate the history of Atlanta, like the civil rights movement and Atlanta's unique place in the southeast. And I also think the problems that people are trying to overcome in Atlanta are very central to the story of America." 

"I think [Atlanta has] often led the nation where it counts," Raymond said.

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