On Naked Capitalism, blogger George Washington looks at housing data and finds that people who lose their homes are not necessarily moving into rentals:
"It thus appears that many of the people who used to own their homes, and no longer do, are doubling up with friends and family. This is probably not their first choice of living arrangements, but they are doing so because they have no other choice economically.
In other words, the correlation between falling home prices and rising defaults, on the one hand, with increasing rental demand and higher rental prices, on the other hand, doesn't hold in a really tough economy."
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