Les Shaver is a former deputy editor for the residential construction group. He has more than a decade's experience covering multifamily and single-family housing.
Though multifamily starts rose almost 40 percent in April and permits approached historical high, many observers still appear unconcerned about over development.
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).
Subscribers can vote for the best affordable housing developments in nine categories as well as one overall winner. More