The conversion of owner-occupied single-family homes into renter-occupied homes has played in important role in stabilizing housing markets that has been wracked by foreclosures, according to a report on rental housing released Tuesday morning.

The Joint Center for Housing Studies of Harvard University (JCHS) report showed that 1.4 million single-family homes became occupied by tenants during the 2008-2009 period, up from 700,000 in the 2006-2007 period.

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