The rent is too high. Anyoneliving in a major US would most likely agree. Seems the pandemicand its related fallout have spurred action on that front, both inrental costs and where those rents are beingpaid.  

US mutifamily rents decreased by$2 in June, down to $1,457, and year-over-year growth was in thenegative for the first time since December of2010. 

A reportby Yardi Matrix showed a .8% declinein the first half of 2020 and a .4% decline in the second quarteralone, a marked change from the 2.6% growth during the first halfof 2019 and a 1.2% increase in the second quarter of the sameyear. 

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Patrick Smith

Patrick Smith, based in New York, covers the business of law, including the ways law firms compete for clients and talent, M&A and corporate work, leadership and marketing innovation. Reach him at [email protected] or on Twitter at @nycpatrickd