A decline in cheap financing of single family homes, low production of multifamily units over the past few deades, and a sheepish public to invest in real estate has led to a veritable boom in renting, writes Reuters.

Money quote:

The percentage of Americans who own their home dropped from a peak of 69.2 percent in late 2004 to a 13-year low of 65.9 percent in the second quarter. It edged up to 66.3 percent in the third quarter of this year.