An uptick in new apartment construction increased supplies in many markets, which has been helping to bring costs down. (realtormag.realtor.org)
In fact between design, approvals and permitting not much new apartment construction can even get started for a year or two. (ashworthpartners.com)
Further, owners retain little incentive to construct new rental units, bringing new apartment construction to a virtual halt, taking with it local construction jobs and tax revenues. (mises.org)