Homeownership versus rental housing

Sorting through the overwhelming array of information and analysis concerning the state of the housing market, housing finance, and single-family housing values, consider this recently released fact: 25.5% of consumers -- nearly 43.4 million Americans -- now have a credit score below 600, marking them as poor risks for lenders. This is the single largest decline in personal "credit worthiness" since this data has been kept. These folks will have little or no access to credit of all types, particularly mortgage financing, for years to come. This trend, along with many others, is leading to a fundamental realignment of the relationship between homeownership and rental housing. Quality, affordable rental housing will necessarily be the best option for serving the needs of lower-income Americans. Success in meeting the future and growing need for quality, affordable rental housing will depend on a renewed commitment to the public-private partnership that has been proven to be the best solution.