By purchasing and holding tens of thousands of existing homes, investors have created a demand where little had existed and drastically reduced the inventory of homes for sale, which has helped boost prices over the past six months. The investors’ goal is to buy and rent out a large portfolio of homes and collect monthly [...]
Associated Press: “Bank of America has launched a pilot program that will let some homeowners at risk of foreclosure become renters and stay in their homes. Fewer than 1,000 borrowers in Arizona, Nevada and New York will be enrolled in the test program, which began this week. Those selected will transfer the title [...]
Wall St. Journal: The current economy has caused many homeowners who relocate or buy another home to rent their old homes because they cannot sell it.
Hard data are scant on how many homeowners are renting out their homes, but anecdotal evidence suggests numbers are up. In one indication of the [...]