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New American Dream: Default, Then Rent

First Posted: 03/18/10 06:12 AM ET Updated: 05/25/11 03:55 PM ET

Money House

Wall Street Journal:

People's increasing willingness to abandon their own piece of America illustrates a paradoxical change wrought by the housing bust: Even as it tarnishes the near-sacred image of home ownership, it might be clearing the way for an economic recovery.

Thanks to a rare confluence of factors -- mortgages that far exceed home values and bargain-basement rents -- a growing number of families are concluding that the new American dream home is a rental.

Read the whole story: Wall Street Journal

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Filed by Adam J. Rose  |