Apartment operators have long been considered big beneficiaries of the housing bust. But one leading industry analyst thinks that rental homes are the post-housing crash world’s real stars...In the last few years, investors have been snapping up distressed and foreclosed homes and renting them out, dramatically increasing the supply of rental single-family homes. The number of single-family rental households spiked 21% from 2005 until 2010...In Nevada, Florida and Arizona – all markets hard-hit by foreclosures – the growth of single-family residential over apartment rental is even more striking: Between 2005 and 2010 the number of families renting homes grew 47.6%, compared with a growth rate of just 0.6% in traditional apartments. About one-in-three rental units is a single-family house, the report says.
Read the full article at the Wall Street Journal
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