Small housing inventory may push rental demand for years

HousingWire
Dec. 31, 2012

The next 10 years may bring five to six million new renter households. Or at least that’s what a recent <a href="http://bipartisanpolicy.org/projects/housing/infographic-rental-market">infographic</a> by the Bipartisan Policy Center is saying. So in the midst of a recovering housing market, why the shift toward a rise in rentals?

Although housing starts are up, construction will take some time to complete and the low inventory of houses may push many potential homeowners to consider renting.

“There is clearly an unmet demand for homeownership among young households,” Barry Zigas, director of Housing Policy for Consumer Federation of America, told HousingWire. “Those households are running up against a number of constraints.”