The demand for rental homes is rising. Many state this is due to the high unemployment rate and rise of short sales and foreclosures. Many Americans are giving up the dream of home ownership and making the transition to renting. People who purchased during the housing boom are paying high mortgages and can pay lower rents on larger homes. According to Morgan Stanley, “Rents are rising, vacancies are falling, household formations are growing and rental supply is limited. We believe the demand for rental properties will continue to grow”.
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