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Asking rent growth for upscale four and five-star-rated apartments plunged from 11.8% year over year.
The median asking rent in March was just 3.3% below the record high of $2,054 in August 2022.
The Fed found evidence that large investors target homes with significant repair needs or deferred maintenance.
Over the next decade, 63% of incubators expect to open more locations and 52% project their average size to increase.
Housing has become so financially burdensome that some families can no longer afford other essentials
for mid-priced, three-star assets, rent growth remained positive at 1.3% and net absorption shot up
A double whammy of declining home values and rising taxes propelled the increase in effective tax rates.
In million-dollar cities median home values shot up 4.6% compared to a year ago
More affordable markets in the Midwest and Northeast grew in popularity as once-frenzied Southern markets cooled off
Data from 341 counties with a population of at least 100,000 shows rents rose more than home prices in 63% of them