Nov
01

Job Growth Slowing Apartment Market?

By

The U.S. apartment sector posted its smallest vacancy decline in nearly two years, raising the possibility that the strongest commercial real estate category may be succumbing to the sluggish economy, according to real estate research firm Reis Inc.

For nearly two years apartment landlords have been able to boost rents and fill their buildings as Americans, either burned by the housing bust or unable to get a mortgage, turned to renting instead of owning a home.

But rent growth ultimately depends upon significant job growth and rising incomes, and during the third quarter neither have come through.

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