A historic housing construction boom may finally moderate rent hikes ...Middle East

An unprecedented boom in housing construction may finally be moderating rents in many parts of the country. (Getty Images/Carebott)An unprecedented surge in the nationwide construction of new housing — mostly apartments — may finally be making a dent in fast-rising rents that have been making life harder for tenants. More than 1.65 million housing units were under construction last year, the highest annual number since federal record-keeping started in 1969. This year, the number was even higher — almost 1.7 million in September. Meanwhile, the typical annual rent increase nationally fell to zero in June for the first time since the pandemic began, after peaking at 17.8% in 2021, according t

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A historic housing construction boom may finally moderate rent hikes ...Middle East

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