America is building more apartments than renters want


BUSINESS INSIDER (March 31, 2017) – The US apartment market remains overdeveloped, with supply outpacing what prospective renters are asking for, especially in the most expensive segment of the market.

US apartment occupancy slipped to 94.5% in the first quarter from 95.1% last fall, according to the apartment-data provider Axiometrics. Properties completed in late 2016 and 2017 are “scrambling” to find their initial residents, especially in the luxury market, the firm said in a report Thursday.

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