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The homeownership rate fell to nearly a five-decade low in the second quarter of 2015, pushing the single-family rental market in America to new heights. The greater demand for single-family rental housing has resulted in an increase in the price of rents, which means greater opportunities for investors looking to either enter or expand in the single-family rental market.
The New York University Furman Center and Capital One's National Affordable Rental Housing Landscape report showed that between 2006 and 2014, the renter population grew while more renters faced difficulty finding affordable housing in the 11 largest metropolitan areas in the U.S. including Atlanta, Boston, Chicago, Dallas, Houston, Los Angeles, Miami, New York City, Philadelphia, San Francisco, and Washington, D.C. With the uptick in rental demand, investors can expect their single-family rental acquisitions to continue growing.
President Obama met with a group of financial regulators, including Federal Reserve Chair Janet Yellen and Securities and Exchange Commission Chair Mary Jo White, at the White House this week to discuss possibilities for more regulation for Wall Street in order to prevent another financial crisis from occurring. Obama described the American Economy as, quote, pretty darn great, close quote, last week during a meeting with his economic team at the White House, but said there is need for more financial reform.
