A recent article in the Wall Street Journal titled, "Cash Course in Housing Economics" identifies another impact that abnormally low interest rates are having on the American economy. The article points out that, while sales of homes are back to 2007 levels, home mortgage applications are still down 45% from 2007. This seeming anomaly can be linked to low interest rates. Investors seeking higher returns are buying – in all cash deals – portfolios of single- and multi-family homes to be converted to rental properties. These deals are increasing the prices for single family homes, driving individual home owners out of the market while potentially creating a new housing bubble.