Builders Are Betting on Rentals

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March 20, 2015

Lennar and many other builders are raising their bets on rental housing as new-home sales continue to drag, The Oregonian reports.

The Miami-based corporation announced that it has a list of 20,000 apartments to build with a budget exceeding $5.5 billion.

"We've seen and continue to see outsized improvement in the rental market in terms of low vacancies and higher rental rates," Lennar’s CEO Stuart Miller said on Lennar’s earnings conference call.

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