The still faltering housing recovery, tight credit, lackluster employment growth and overall weak consumer confidence has kept demand for apartments high, despite historic housing affordability.
That, plus a shortage of supply, means rents are going higher, increasing at their fastest pace since the fall of 2007, according to Reis Inc., which expects rent growth to accelerate even more as vacancies tighten.
The gist of the article appears to be that one must “do the math,” as it were, and look out ahead in terms of what the whole market and various regions will do because of the following (also from the article):
Analysts at Reis also warn that supply in the apartment sector is coming fast. They estimate 70,000 units to come online in 2012, double the rate of 2011, and around 150,000-200,000 in 2013.
Rent rates and property prices will do what on account of that new construction?