Back in the middle of the summer, the concept that the government should try to fill foreclosed homes with renters was floated. Yesterday, the Trulia Insights blog looked at the effectiveness of a push by Fannie, Freddie and the FHA to sell government-owned homes to investors who would then fill them with tenants.
Trulia’s Chief Economist Jed Kolko explored the impacts of the policy, analyzing the market for REO homes and determined that while the policy is a small step in a positive direction and would help some distressed neighborhoods, with REO homes clustered in places like Michigan, Georgia, the Southwest, and inland California, most urban centers wouldn’t see too much benefit.
If you don’t live in a neighborhood with lots of homes that the government can sell or rent, then REO policies wouldn’t do you much good. Renting out these government-owned homes wouldn’t ease pressure on tightening urban rental markets. Renters typically live in bigger, denser cities, which are not where most of the government-owned homes are. In fact the typical location of a government-owned home is in a neighborhood with fewer renters, higher rental vacancies and where homes are more spread out.
This article originally published at https://dc.urbanturf.com/articles/blog/another_look_at_renting_out_foreclosures/4674.
Most Popular... This Week • Last 30 Days • Ever
Why condo fees are high in some buildings and low in others can be a difficult questi... read »
When sellers haven't quite lined up their next house before their settlement date com... read »
In this edition of First-Timer Primer, we look into the question of how to determine ... read »
The preferred mortgage product among most home buyers is the fixed-rate mortgage. How... read »
Here's what you need to know about reporting profit made from the sale of your home.... read »
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
Virginia's homebuyer assistance programs can seem complex. This edition of First-Time... read »
In this edition of First Timer Primer, we take a closer look at what you are actually... read »
To help home buyers and sellers both novice and seasoned, UrbanTurf is running a seri... read »
A recent transaction shows that the housing market isn't cooling off everywhere.... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro