At the end of third quarter of 2014, the Census Bureau reported that the US home ownership rate hit 64.4 percent, the lowest level for the country since the first quarter of 1995. While individuals might be standing on the sidelines of the housing market, investment firms, real estate trusts and Wall Street institutions have been scooping up distressed houses — those in the foreclosure process or bank-owned — in bulk and renting them out.
More recently, sales of these problem properties are trending downward. According to the latest numbers from RealtyTrac, a real estate information company, distressed home sale and short sales – where the proceeds from selling the property will fall short of the home’s balance of debts – accounted for 12.6 percent of all residential property sales in November. That…
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