Government holds too many distressed, foreclosed homes. Rent 'em!
If Fannie Mae and other agencies sold their more than 1 million distressed or foreclosed homes, it would glut the market. But it could rent them. ... Full Story »
Posted by Steven K Samra - via Christian Science Monitor, Donica Mensing (t), Sirajul Islam (t)
Not only would renting these homes help with offset the tremendous losses of foreclosure, it would increase inventory in a market where demand for rental property exceeds supply, pushing the cost of renting beyond the reach of many who otherwise would have been able to afford the cost. Resources could be brought to bear for those experiencing homelessness as well, rehousing a very costly sub-population of the country (average cost for one chronically homeless individual on the streets of New York City: $40k) at a fraction of the cost associated with living on the street.