Rachael begat Sarah, and Sarah begat Abraham, and the financial crisis begat a nation of renters. Hence this analysis from marketplace.org.
Nearly 10 million homeowners lost their homes to foreclosure sales in the U.S. between 2006 and 2014. The effects of the subprime mortgage crisis are not only still being felt today, they have indelibly changed the way Americans view homeownership and the way we live.
For one thing ...
We are becoming a nation of renters
Marketplace and APM Research Lab gathered census data from 2006 through 2016 (the most recent available) on every city in the country with more than 150,000 residents (there are 173 of them). Here’s what we found:
There are now more renters than homeowners in almost half of major cities — 47 percent. That’s up from 21 percent in 2006.