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The continuing apartment-building boom

from MarketWatch

As credit remained tight and demand rose, apartment construction led growth for housing starts in March, government data indicates. Construction starts on buildings with at least five units rose to a seasonally adjusted annual rate of 392,000 in March, up 27 percent from February. Meanwhile, starts for single-family homes fell almost 5 percent. "As families are formed, the reality of income employment and credit availability are among the factors pushing people into rental properties that have been under-built in the past 10 to 15 years," wrote Steve Blitz, chief economist at ITG Investment Research, in a research note. more

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