Reported 2 days ago
The United States is experiencing a paradox of a serious housing shortage yet an excessive number of luxury apartments. With a national vacancy rate for high-end units at 11.4% and an overall multifamily apartment vacancy rate of 8%, developers have oversaturated the market with expensive rentals that many cannot afford. While some cities like Austin are seeing vacancy rates as high as 15%, other areas such as New York maintain tight rental markets. As evictions rise and construction of affordable units dwindles, the challenges in aligning housing supply with tenant budgets persist.
Source: YAHOO