If the banks foreclose upon a house and puts it to market for sale, that would transfer a renter looking to buy into that home and the previous homeowner into a rental,
What would set it apart would be the investment properties. During the bubble people bought multiple homes, second homes, vacation homes. Many of these are sitting empty. If the banks foreclose upon these homes and then list it, a renter looking to buy would purchase it and leave a rental unit vacant.
I’m not very familiar w/downtown, but I’ve read somewhere about all the empty units down there. Some owners don’t even live in this state, much less this county. We can’t forget all the speculation. One of the driving forces of the bubble.
