Home Rentals- the New American Dream?

USA TODAY is featuring a great article today entitled “Home Rentals — the New American Dream?

Here are some great snippets on the future of the rental market…

The foreclosure crisis will drive 3 million former homeowners to rent single-family homes between 2010 and 2015…

Single-family home rental was the fastest-growing part of the rental market, Fannie Mae says, citing U.S. Census data….

“In the next five to 10 years, you’ll see tens of billions, if not hundreds of billions, of dollars of private equity” pouring into the single-family rental business…

In the past six months, Colony Capital has bought more than 1,000 homes to turn into rentals. Most are in Arizona, California and Nevada, though Colony expects to expand into Texas, Georgia and Florida. In the next year, it will invest at least $1.5 billion in single-family rentals….

He says the growth of big-time investors in the single-family rental market is a “transitory thing” because it’s more expensive to manage them than multi-family housing. “The end game for investors is to sell these homes profitably in three to five years to owners….”

70 percent of those who lose homes to mortgage distress will own again. A recent Harris Interactive survey, commissioned by Coldwell Banker, found that 83 percent of renters want to own a home….

For Rent

What do YOU think about the upcoming rental boom?  Are you ready to capitalize on this trend?

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