Home Renter-Ship On The Rise | 35% Of All Occupied Homes Are Rentals

By
Real Estate Agent with Starlight Realty Certified REO & Short Sale Specialist

A housing trend that will continue to increase is renting. Renting can make financial sense for both the landlord and the tenant.

Nearly 35% of occupied homes were rented out in 2010, that's opposed to 33.8% in 2000, according to census data compiled by USA Today. More than 500 cities have seen a rise in the share of homes being made into rentals. Of course, not all sellers can afford to rent in this market and move somewhere else and that has a direct effect on their ability to move and take a new job.

What happens when someone has to move to take a job and can't sell (or rent) their home? More defaults...more foreclosures. Of course, the best solution to avoid a foreclosure is a short sale. Many times owners are underwater and even if they could rent the home it would have significant negative cash flow.

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