from a CEPR paper by Dean Baker, Danilo Pelletiere and Hye Jin Rho
"Roughly, 40% of the recent foreclosures nationwide appear to be of non-owner occupied single family and multifamily rental homes.6 In most cases renters in these units are threatened with eviction."
the footnote: "Preliminary NLIHC tabulations of Massachusetts data from the Warren Group find that only 42% of the bank repossessions in that state from January 1, 2007 to mid March 2008 were single family homes. Another 14% were condominiums. And fully, 42% were for buildings with two or more units. These type of results have been mirrored by other reports. For example, a recent report found that "38 percent of foreclosures now involve rental properties," affecting "at least 168,000 households nationwide," and that roughly half of the recent foreclosures in Nevada, Illinois and New York involved rental properties. CBS Evening News (2008, March 27). Foreclosure crisis causing crisis for renters. Transcript received from Lexis-Nexis March 28, 2008.
http://www.cepr.net/documents/publications/ownrent_2008_04.pdf
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