Home construction is weak, but apartment construction is booming

Nov 18, 2022
That's because apartment developers have a lot more incentives to keep building right now.
Apartment construction is way up, as rents rise independently of mortgage interest rates.
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How brutal is NYC’s rental market? Just ask this producer.

Sep 28, 2022
One report found that net effective median rent in Brooklyn jumped more than 27% year-over-year in August.
A public radio producer, two roommates and a corgi team up to take on Brooklyn's competitive rental market.
Dylan Miettinen/Marketplace

Apartment hunting? In New York City? In this economy? Fuhgeddaboudit.

Mar 30, 2022
“It's a new level of insanity in the market,” said recent New York City apartment seeker, Maya Kosoff.
The average price to rent a two-bedroom apartment in New York City reached $2,152 in February, according to a report from Apartment List.
Photo by Drew Angerer/Getty Images

How private equity is changing the rental market

Mar 2, 2022
Heather Vogell of ProPublica finds short term-oriented corporate investors are increasingly becoming apartment landlords.
"I think what we're seeing is that these companies are acting in ways that are problematic for tenants to meet their investment goals," said ProPublica reporter Heather Vogell.
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What's behind the housing inflation disconnect?

Jan 11, 2022
For many Americans, rents are rising much faster than official numbers suggest.
Depending on the source, rent rose anywhere from 3% to 18% last year. Above, apartments in New York City.
Drew Angerer via Getty Images

Wage hikes outpace rent hikes in some parts of the country

Jan 6, 2022
And new data shows that buying a place is more affordable than renting in some areas.
In most places in most years, rents rise faster than renters' incomes, according to a researcher at the Center on Budget and Policy Priorities.
Justin Sullivan via Getty Images

Millennials locked out of hot real estate markets

Nov 29, 2021
The National Association of Realtors reported on Monday that pending home sales were up 7.5% in October.
Millennials are staying in their apartments for longer than they would have a decade ago, likely due to the high cost of first-time homes.
Spencer Platt via Getty Images

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More buildings being converted to apartments than ever before

Oct 14, 2021
About 20,000 new apartment units were created this year in buildings that used to serve some other purpose.
The Tribune Tower sits along Michigan Avenue at the Chicago River in Chicago, Illinois. Much of the iconic building has been converted into apartments.
Photo by Scott Olson/Getty Images

Rents are rising again, making it hard to find an apartment

Jul 22, 2021
Bidding wars to rent? One would-be renter says that's going on in Houston, Texas.
While rents in urban areas dipped during the pandemic, they're climbing back up and inspiring rental bidding wars in some markets.
Justin Sullivan via Getty Images

Home construction is surging, but it's leaving out struggling renters

Aug 18, 2020
Apartment market tracking firm RENTCafé predicts apartment construction will be down 12% from 2019 to the lowest level in five years.
Even with the surges in homebuilders' confidence and some construction metrics, there is still an affordable renting housing crisis.
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