Interesting facts regarding the increasing rise of renter households...

Highlights of the current housing market in regards to Rental Homes.  This is from a report by Harvard University’s Joint Center for Housing Studies published each year reporting on the housing market for that year.  This is the 2013 findings and I am highlighting facts that are interesting to rental home owners and investors.  The full report can be download here. 



The take away here is the percentage of "renter" households vs. "owner" households is increasing every year.  Due mostly to the increasing tighter standards to qualify for home mortgages.  Please feel free to share your comments.

Report highlights:

• The share of single-family homes rented has increased sharply in recent years, with investors accounting for one in five home sales nationwide in 2012.
• Fueled by the growing share of households opting to rent, the US rental vacancy rate fell for the third straight year to 8.7 percent in 2012, down from 9.5 percent in 2011 and 10.6 percent in 2009 to its lowest level since 2001.
• 1.4 million single-family homes on net were converted from ownership to rental properties between 2009 and 2011.
• The share of renters living in single-family homes rose from 30.8 percent in 2005 to 34.1 percent in 2011, totaling nearly 14 million units.
• The US homeownership rate fell for the eighth straight year in 2012, from 66.1 percent to 65.4 percent, reflecting a net loss of 161,000 homeowners for the year.
• In 2007, borrowers with credit scores below 620 accounted for 45 percent of FHA loans but by the end of 2012, that share was under 5 percent.

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