The multifamily housing market is expected to see a multi-billion dollar boost as millions of home owners who were foreclosed upon are now forced to rent, according to a new report by Morgan Stanley.
Many of these former home owners will now have to likely pay rent over the next five years as their credit repairs, which would equal $72.7 billion in incremental rental payments instead of mortgage payments, according to Morgan Stanley.
http://realtormag.realtor.org/daily-news/2011/10/31/multifamily-market-expect...
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