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Landlord Nation: Boomers’ New Retirement Plan Is Millennials Paying Rent

The foreclosure crisis turned America into a market of renters—and rent collectors.
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Photographer: David Paul Morris/Bloomberg

Pete Pollinger and his wife, Julie, are relocating from Boca Raton to Melbourne, a city of about 70,000 on Florida’s Space Coast, named for its proximity to NASA rocket sites at Cape Canaveral and the Kennedy Space Center.

They weren't just hunting for a place to live. As they get ready to move this year, they’re also looking for single-family homes they can buy, fix, and rent out.