Friday, May 22, 2015
Wall Street Journal: "New Luxury Rental Projects Adding to Rent Squeeze"
Wall Street Journalist Laura Kusisto writes: "A focus by builders on high-end apartments helps explain why rents are soaring across the country."
While some developers worry that the current construction boom could eventually result in overbuilding at the high-end—which could put downward pressure on rents for all types of apartments—there is considerable angst among city officials and housing advocates worried that the middle class is getting squeezed.
Read the full article.