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America is running out of apartments

America is running out of vacant apartments. Rental-apartment occupancy in the US reached 96.5% in the third quarter, according to RealPage, a provider of property-management software. That's just under the all-time peak of 96.8% reached during the tech boom in 2000, according to the firm. The flip side of occupancy — vacancy — also shows a strained picture. According to the Census Bureau, the rental-vacancy rate remained near a 30-year low of 6.
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