http://blogs.wsj.com/developments/2010/04/07/housing-wont-heal-until-the-renters-come-back/
The above is a Wall Street Journal blog about why RENTERS hold the key to recovery of real estate.
The "newly graduated" (high school or college) who can not find jobs or who do not feel comfortable committing to home ownership because of their poor job prospects are returning home to live with the "rents" AND are taking LONGER to commit to home ownership........AND the short-sale or foreclosed homeowners who are NOW being forced to rent need to repair their credit, budget their expenses and save in order to get BACK into home ownership.
Both of these groups are helping to create a demand on good rental housing that is not likely to disappear even when the real estate recovery is more firmly established. Until new-hires are established in their employment, they are likely to remain renters in order to remain mobile and viable to new employers who may need to relocate them more easily than older employees.
The newly foreclosed may need to rent longer in areas where their children are established in schools and to be near their employment. Many of these families may never return to home ownership if their financial situation can not improve and if they can not save and prioritize for their re-entry into the real estate market.
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