March 30, 2006
"The recent run-up in home prices makes apartment living more desirable," said Delores Conway, director of the Casden forecast, in a statement. "And the tight supply of land coupled with more condo conversions means fewer available units. That translates into higher rents and occupancy rates for the next couple of years." She also stated that apartment demand will benefit from the region's increased growth in trade along with an infusion of higher-paying jobs associated with business and professional services.