So many cheap houses to snap up, yet so few buyers to take your current house off your hands — at least at the price you want to sell for. Such is the dilemma that has millions of homes in the U.S. being converted into rentals nowadays: 2.5 million, to be exact, since 2007.
There are three culprits actually: homeowners renting out to help with mortgage payments; brand-new condos that can’t find buyers; and newly bought foreclosed homes that now need tenants.
Reposted with permission from Curbed.com. Click here to view original post.
Copyright (c) 2009 Curbed.com LLC
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