Luxury condo developments may grab the headlines, but rental housing is the true workhorse in the booming multifamily sector, according to a Wall Street Journal report.
The Journal's Nick Timiraos reports that construction of multifamily housing units—those with five units or more—is running at its strongest 12-month pace since 1989, and that 93% of units in buildings with at least two units are being constructed as rentals.
The multifamily sector is now outpacing the peak construction rate in the previous housing cycle, in 2006, according to the WSJ.
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10 Great Solutions
The editors of Building Design+Construction present 10 “Great Solutions” that highlight innovative technology and products that can be used to address some of the many problems Building Teams face in their day-to-day work. Readers are encouraged to submit entries for Great Solutions; if we use yours, you’ll receive a $25 gift certificate. Look for more Great Solutions in 2012 at: www.bdcnetwork.com/greatsolutions/2012.
