I think there’s a difference between a homeowner thinking about renting and cashing out to actually do it. But if a lot of owners did move out to rent it would probably lead to an increase in SFR rents. Let’s face it, when compared to paying $1,400/month to rent a 2bd apartment in a nice project, paying less then $2,000/month for a detached home in a comparable neighborhood is indicative of an SFR rental market that’s somewhat undervalued when looking at the relative utility of these different property types. Those SFR rents probably SHOULD come up a couple hundred bucks. At least.
