Though multifamily starts rose almost 40 percent in April and permits approached historical high, many observers still appear unconcerned about over development.
As the rise of the single-family market puts pressure on the costs to build, laborers are finding themselves in a pinch.
Although investment banks continue to disappear from the landscape, Federal Deposit Insurance Corp.
As current Treasury Secretary Henry M. Paulson Jr. continues pitching his estimated $700 billion bailout plan to Congress and other stakeholders, former Treasury Secretary Lawrence Summers warns that any solution to the problem will be incomplete unless it addresses shrinking home values and mounting mortgage debts.
Apartment sales are abysmal, according to the latest quarterly survey on apartment market conditions, released this week by the Washington, D.C.-based National Multi Housing Council (NMHC).