Yesterday I noted some important demographic housing trends, today here are some interesting facts mentioned in "The State of the Nation's Housing 2001" report from the Joint Center for Housing Studies of Harvard University about home ownership vs. renting:  

• There was a net shift of 1.4 Million single family homes from owner occupied to rentals in 2007-2009 (nearly double the number 2005-2007), rental vacancy rents have fallen and given lift to rents and property values.

• The rental vacancy rate nationally dropped below 10% in 2010, in Boston it is below 5%.

•  Nationally, homeownership rates have dipped below 67% in 2010, down from 69% in 2004.  The farther homeownership rates fall the longer it will take to work through excess inventory.

• The National Vacancy Survey shows that the number of renters swelled by 3.9 Million from 2004 to 2010.

• 74% of current renters believe owning a home makes more sense than renting while 84% of the population as a whole believes the same.