The current short-term lessening of apartment demand is no reason for the industry to ignore the long-term trend that the country needs more housing, according to a post by the National Multifamily Housing Council (NMHC) last week.
After a tremendous, multi-year run of rent growth, tents have fallen due to slowing demand in the latter part of the year because of economic uncertainty and increasing vacancy rates, NMHC said.
"Households are doubling up, moving back home or deciding not to create new households at all," the group said.
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