As unemployment and foreclosure rates continue to rise, many Americans are seeking temporary housing.
Many reports confirm that the number of renters has been steadily increasing, reflecting the reluctance of potential homebuyers to take on the commitment of a home purchase. More and more, people are content to wait it out in a rental for fear of tight credit requirements and a faltering housing market.
This reluctance suggests that landlords are the benefactors of this trend. Many cities are reporting that rents are increasing as rental stock shrinks.
CNN recently wrote a timely article for those seeking to take advantage of the market and invest in rental properties. According to CNN, “the opportunities for this kind of investing haven’t been this good in years.” In their piece, they’ve outlined the top 10 cities for rental investments, as reported by Local Market Monitor, a North Carolina-based firm specializes in real estate price forecasting.
Read the entire story on CNN Money.
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