It's not as cut and dried as you might think. The problem with the more affluent areas is they are very price sensitive and vacancy is usually higher than in more middle class areas. The credit reports are a good resource, but we disregard bad medical as well as some foreclosure issues do to divorce, illness, or death of a spouse.
Residential real estate got way over sold and until the 8-10% who shouldn't own homes are out the problem will persist.
It’s pretty cut and dried. I could easily type out the rental ads around here that fly the big “No credit check” banner. It’s become ubiquitous. You might not be able to rent any house if you walk away from your mortgage, but you’ll certainly find a house to rent.