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Title : Over 1.2 Million Homes Gone Due to Recession
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Over 1.2 Million Homes Gone Due to Recession

This week, a recent report from the Mortgage Bankers Association, shows 1.2 plus, million households have been lost in the recession. This number is based on data between 2005 and 2008 and does not include any information from last year-when the number of foreclosures rose.

According to the study, conducted by professor, Gary Painter from the University of Southern California, the number of overcrowded households (more than one person per room) has increased five times. It's no secret the homeownership rate is dropping steadily, nationwide. Renters have been forced to move in with family and friends. This explains why US apartments remained at 8% within the first quarter-according to a recent report from Reis, a real estate research firm, the highest level since 1986.

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