Foreclosure Fallout: 43 Percent of Americans Are Still Renting
Although the start of the mortgage meltdown is nearly a decade in America’s rearview mirror, its effects are still evident in the number of former homeowners who are treading water in the nation’s rental market.
A new report by real estate site Trulia.com found that the number of renters across the United States grew by about five percentage points between 2006 and 2014, to just over 43 percent.
Within this cohort, though, some geographic and demographic groups suffered a more acute dropoff in homeownership levels. As aspiring presidential nominees travel to Las Vegas to woo Nevada voters in advance of that state’s primary later this month, candidates will be facing a population in which fully half of households rent today, up from just under 40 percent a decade earlier, the highest increase among major U.S. metro areas.