Posted January 12, 2012 by RentJungle

"In response to rising foreclosures and stringent mortgage standards developers and families turned to the rental market as a solution. New rental units are expected to relieve the tight vacancy market, specifically on the west coast within the next year. Despite optimistic reports of multifamily construction rebounding, only 38,000 new units were built last year representing an all-time low in the last thirty years."

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