More than a decade after the Great Financial Crisis, tight credit access and a lack of new home construction at affordable price points have kept homeownership out of grasp for hundreds of thousands of American families.
Enter the institutional single-family rental industry, which has exploded in recent years in response to the overwhelming demand from families with young children who crave more space and privacy than other rental demographics.
A new report from The Amherst Group shows that single-family renters in homes constructed after 1980 tend to be larger families with more children. They are also typically younger and more likely to be single parents than owners, suggesting "it may take more time for these households to accumulate the requisite down payment and afford the monthly mortgage servicing payments," the report notes.
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