As growing numbers of Americans come to realize that homeownership is not for them, construction rates for multifamily rental unites continue to soar.
“There’s been a fairly compelling recovery in multifamily construction because people need apartments to live in,” said Ward McCarthy, chief financial economist at Jefferies LLC in New York.
According to Bloomberg News, more multi-family home construction projects were started over the last year than we’ve seen since 2006.
Image via flickr/Stephanie Mignon
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