The US’s average rental rate has fallen by 0.18 percent in November, according to real estate research firm CoStar. The driving force behind this decline is the lower rents in cities such as Austin, Denver and Phoenix which owe much to the construction of new apartments. The changing rental scene in these cities challenge the notion that ‘luxury apartments’ doesn’t help the broader housing ecosystem.
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The US’s average rental rate has fallen by 0.18 percent in November, according to real estate research firm CoStar. The driving force behind this decline is the lower rents in cities such as Austin, Denver and Phoenix which owe much to the construction of new apartments. The changing rental scene in these cities challenge the notion that ‘luxury apartments’ doesn’t help the broader housing ecosystem.
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