Apartment Boom May Put Lid on Rising Rents As builders quickly ramp up
building
of apartments across the country to meet rising demand, vacancy rates
are starting to rise. That could help limit rent increases in 2015,
according to economists. Renters Burdened More Than Owners The economists predict rent growth to slow to below 2 percent in 2015
as the multifamily market increases construction. They say apartment
vacancy rates will rise in 46 of the country's 54 top metros over the
next four quarters "due to the massive wave of current apartment
deliveries and new apartment projects starting almost daily." Vacancy rates will likely push higher than 5 percent by the end of 2015. See Median Price of Existing Homes in the U.S. for October 2014.
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