Northeast Experiences Apartment Surge

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June 17, 2015

A massive spike in multi-unit builder permits in the Northeast can be traced to an expiring tax break and rising demand for apartments in the region’s metro areas.

The U.S. Commerce Department reported that the number of Northeast homes in multi-unit buildings approved for construction doubled to an annual rate of 254,000 in May, compared to 130,000 in April.

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