Increase in renters drives apartment construction to a 25-year high

Wall Street Journal real estate bloggers Nick Timiraos and Josh Zumbrun report that a big share of July’s gain in housing construction comes from the multifamily sector. In fact, looking at a rolling 12-month total of multifamily starts without any seasonal adjustments, the numbers show that construction of multifamily housing has reached its highest level since 1989.

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