How the Housing Crisis Benefitted Renters

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March 11, 2015

Ever since the Great Recession, there has been an uptick in single-family homes available for rent.

In fact, CityLab cites data from the Urban Institute to reveal that single family units have outpaced other rental structures since the housing bust. Foreclosures led to an excess supply of single-family, owner-owned detached homes that investors could transform to rental properties, but in the multifamily sector, there was no comparable excess supply.

According to CityLab, this is because, during the decade preceding to the Great Recession, multifamily housing construction went into a nosedive. Builders were building to meet the demand of home buyers, while renters at the time were sidelined.

 

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