A Reuters article claims that, due to the subprime mortgage situation, lower-cost housing (such as mobile home parks and apartment rentals) may be the only housing options left to those closed out of homeownership.
However, it warns that former homeowners with ruined credit from mortgage defaults --or those who have substandard credit -- might still find it difficult to find housing. Becaus eof their bad credit, they won't easily qualify for a personal loan with which to buy a mobile home. What's more, many available apartments are in high-quality buildings that have tough credit standards for tenants.
Soure: www.reuters.com/article/ousiv/idUSN1930366120070320
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