The Wall Street Journal is reporting that nationwide rents are rising faster for mid-tier apartments than they are for more luxury units. According to the WSJ:
“Developers’ focus on high end contributes to shortage of affordable units” and “construction costs are generally too high to justify building new complexes for low- and middle-income tenants, experts say, contributing to the scarcity.”
Read the full article here: Rents Rise Faster for Midtier Apartments Than Luxury Ones, WSJ 8/16/15
