In Merced, California, six students are renting a 4,200 square foot McMansion for $300 each. Each student has his own bedroom.
The owners of properties like this are risking party time males. College-age males are not known for being gentle on housing.
The real estate crash is so bad in the region that owners think they have no choice. An owner may be a lender that repossessed a home.
This video indicates the extent of the problem for owners — and opportunities for the renters.