Friday, November 1, 2013

In more homes, the roof overhead is rented

In the aftermath of a historic housing bust, rented single-family homes are on the rise in communities from coast to coast.

At least a fifth of all occupied single-family homes were rentals last year in 32 of the nation's top metropolitan regions, according to a USA TODAY analysis of U.S. Census Bureau data. That's up from seven metros in 2006.

Rates: National average on 30-year mortgage falls to 4.5%

The growth reflects changes brought by the housing boom and bust and the enduring financial hardships imposed by the recession. Millions of homeowners lost homes to foreclosure and were forced to become renters, while others delayed homeownership.

READ MORE:  http://www.usatoday.com/story/money/business/2013/10/20/single-family-homes-turned-rentals/2939243/

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