The real estate market is no longer impacted just by those who bit off more than they could chew when they bought their home a couple of years ago. Now almost everyone who purchased a home between 2004 and 2008 probably owes more on the house than it is worth. Many have lost their jobs and can't carry their mortgage and need to downsize. An increasing number are being forced to sell short or in the worst case, walk away and the net result is that bad credit leads them to the rental market. The new market renter has not lived in an apartment or rental home since their young days when they first started out. Landlords and property managers have to understand that these people are different than the "fill a box" tenants of years past.