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The credit quality of prospective renters has held steady, suggesting that the foreclosure crisis is not spilling over to threaten the financial health of the apartment sector, according to a study by the Washington, D.C.-based National Multi Housing Council (NMHC).
The NMHC white paper--Renter Credit Quality in a Volatile Housing Market--noted that homeowners of foreclosed properties have not been flocking to the apartment sector, as evicted homeowners only represent between 2 percent and 6 percent of apartment applicants.
