Increased home affordability blamed for rental market struggle

Increased affordability in the housing market, more home foreclosures, and the first-time homebuyer tax credit could be to blame for the rising vacancy rate in rental homes across the country, according to CNBC’s Diana Olick. The third quarter this year saw a 7.8 percent vacancy rate in U.S. apartments, the highest level seen since 1986, according to research group Reis.