http://www.usnews.com/news/blogs/hom...-homes-to-sell
yeah this was 6 months ago.
Home building is still in the toilet. Of course people are renting 3 and 4 to a place. That's been going on since mid 2000's when housing got stupid expensive. New homes coming on line fast enough to keep up with the population growth because credit is no good anymore.
Now the young, old, and disappearing middle class are getting shafted with run down neighborhoods. It's societal rot occurring. Rents go up cause everything goes up when money is inflated with no limit.
Landlord's care who they rent to, but they also have to pay the mortgage. Investors have to lever up, so they are looking for what has leverage in this market, and that is paying rents. Credit is still dead. Building is still dead, but people are living longer, the population is still growing.
We can't have a decent economic response to the crap lifestyles we are talking about here as long as the market stays distorted and as long as people still think that prices are going to go up and up and up.
You'll know the problem is resolved in housing when no one has the nerve left to think prices are wear they should be.