Investors Have Reshaped the Market

Cash-rich institutional investors jumped into the market when homes were at their cheapest and built up massive real estate holdings that they've since turned into rental properties. In addition, many people who were underwater on their homes but needed to move became "accidental landlords," renting out their first home so that they could move to a second. Result: Four million more single-family homes are available for rent than there were prior to the recession, meaning potential renters have far more options.