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HOUSTON-Though multifamily has been fairly strong overall in Texas during the past couple of years thanks to job growth. But as the Lone Star State starts to feel effects from the economic recession, vacancies are on the rise, which will further be exacerbated by more units currently under construction and scheduled to come online this year and into 2010.

“What’s hitting the markets is that developers really love Texas,” Stuart Showers, manager, research and consulting with O’Connor & Associates in Houston tells GlobeSt.com. “As a result, we have construction pipelines moving along and putting units into the inventory.”

[IMGCAP(1)]Statistics from O’Connor & Associates puts the number of units under construction statewide at 66,910. M


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