More households and more renters in U.S.

More Americans are renting their homes now than in any time in the last 50 years (Pew). 

The number of households renting their homes grew from 31.2 percent in 2006 to 36.6 percent in 2016.

The 2008 financial crisis occurred, in part, when home prices crashed. Many homeowners owed more money on their mortgages than their houses were worth.

In 2008, the U.S. government rescued those financial institutions considered “too big to fail”  with loans of $700 billion to purchase distressed assets and inject capital into the banking system.

The total number of households grew between 2006 and 2016 by 7.6 million.

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