More Rental Housing According to Study
The present administration is lobbying for home ownership but according to a study conducted by both the Center for Economic and Policy Research and the National Low Income Housing Coalition it should focus more on rental and affordable properties.
Due to the surging rates of foreclosures, people may choose the apartment or temporary housing options this year. There’s even a figure stating that 1 million people rented apartments last year compared to 139,000 more people looking into buying a house.
“With or without proactive policy, the transition from owner-occupied housing to rental housing is happening,” the report said. “In these bubble markets, policymakers must not only be less committed to sustaining ownership and home values, but also must proactively facilitate the conversion to rental of vacant, foreclosed and delinquent units to limit the pressure on the rental market.”