Government Should Convert REOs to Rentals
Excerpt:
“The government’s plan to dispose of the more than 250,000 foreclosed homes in its portfolio needs to include women and minority business owners and skew toward converting the properties to short-term rentals, according to an organization representing female real estate brokers.”
“The state of real estate owned disposition in the United States requires a significant rethinking in order to restart America’s housing economy,” said a proposal from the National Association of Women REO Brokerages.
“The group advocates three- to five-year REO rental strategies that keep current tenants, who may be former homeowners, in single-family REO residences “as a market-specific solution to meet increased rental demand and stall weakening home prices.”
Full article is here.