Many people who foreclosed on their homes are being left with no other choice but to rent. Renting single-family homes is the fastest growing segment of the rental market from 2005 to 2010, according the research at Fannie Mae.

John Burns, Real Estate Consulting estimates that between 2010 and 2015, there will be three million former homeowners that will likely rent single-family homes.

"In the next five to ten years, you'll see tens of billions, if not hundreds of billions, of dollars of private equity" pouring into the single-family rental business, Justin Chang, principal of investment firm Colony Capital, told USA Today.

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