The COVID-19 Economic Shutdown is Already Hitting Multifamily Rents

The average rents on apartments are already dropping, as the U.S. economy grinds to a halt and millions of workers have lost their jobs, been furloughed or have been asked to stay home to fight the rapid spread of COVID-19.
“Job losses are already affecting demand for apartments,” says Andrew Rybczynski, managing consultant for CoStar Group. “The evidence is apparent in daily rent changes.”

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