It seems like renting out government-owned homes in Florida would be a good idea right now. But, at the same time, doing so probably will not ultimately solve the problem in the areas where housing prices have taken the biggest hit.
The idea now though – in places like Florida – is that the FHFA (Federal Housing Finance Agency) is currently looking into the possibility of selling these homes to investors who would then rent or sell them, which would generate a profit for them. The hope thereafter is, that government-agencies will also make money (which they really need) and the value of neighborhood properties will increase by putting renters or buyers into the homes that are sitting empty. At the same time, this would facilitate tight rental markets through an expansion of the amount of homes available.