U.S. Vacancy Rate Rises For First Time Since 2009 In Wake Of Apartment Building Construction Surge

This is an interesting headline, and one that anyone paying attention to the domestic real estate market should pay close attention to. We know that millennials aren’t the ones buying new homes in America (that market has been cornered by private equity and hedge funds as well as foreigners laundering suspect money), but those millennials who do posses the cash flow to move out on their own definitely appear to be renting. Due to this trend of renting as opposed to buying by average citizens, there has been an enormous construction boom of apartment complexes across the U.S.

For what it’s worth, I’ve never seen construction in the Denver/Boulder area anywhere near what I am seeing now in the four years I have lived here. It looks like scenes from Miami in 2006.

Read more at LibertyBlitzkreig.com.