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Foreclosures vs. Rentals
Actually this is more of a question than a blog post. I am curious with the increasing number of foreclosed homes out there, what effect is this having on the number of available rentals? Are landlords seeing an increase in the number of their rented properties, and in what classes are there increases, upper, middle, lower, or are they equal across the board? As an inspector who does foreclosed home inspections, I have seen more middle and upper middle class homes than I have anything else being foreclosed on. There is the added effect of decreasing methods of "creative" financing, and for that matter willingness to provide financing at all, which in theory at least should reduce the number of homes being purchased, naturally increasing rental occupancy in these classes. If anyone out there has this type of figures, or a location where I could find this info I would really like to see it.
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