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Skyrocketing apartment rents are finally cooling off

The cost of renting in American cities has been skyrocketing over the past few years, but that may finally be changing, according to Dave Liang at UBS. The dramatic increase in multifamily structures — such as apartment buildings — has finally caught up with surging demand and will cool off rent growth, the UBS economist said in a note released Monday. Liang said Americans opted to rent rather than own at an increased pace after the financial crisis.
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