Apartment renters aren't moving much

Great article from USA Today on the trend towards higher-than-average apartment rent renewals. Given the cost and inconvenience of moving, we would expect most tenants to renew if they are happy with their current living arrangement. What I find interesting, however, is that this is occurring despite the large number of newly constructed units coming online. That means that the new construction is being absorbed by new tenants - not simply by attracting tenants from one building to move to another. So, the trend of new renters entering the market place seems to be strengthening - which means the new supply will be absorbed without a hit to the renewal rate amongst existing complexes. I als

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