Thousands of single-family homes are being built to rent rather than
sell, The New York Times reports. More home builders and investors see
it as an income-generating investment at a time when the pool of
first-time home buyers is shrinking.
The percentage of homes built specifically as rentals was 6.2 percent
in 2012 — a record high, according to Census Bureau figures.
For example, in the Atlanta area, a five-bedroom, three-bathroom new
home that may have sold for less than $200,000 can fetch $1,300 a month
in rent.
“New homes still command a premium with renters,” the Times reports.
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