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Rent hikes in US are finally slowing - mostly for the rich

Published Sun, Jun 5, 2016 · 09:50 PM
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New York

WHEN shares of apartment owners fell last week on disappointing revenue projections in New York and San Francisco, it was bad news for the property companies and good news for renters.

Well, some renters.

Between April 2015 and April 2016, the pace of rent increases slowed in at least 90 per cent of luxury ZIP codes in Atlanta, Los Angeles, New York, and San Francisco, according to data compiled by Zillow.

But in each of those metropolitan areas, rent growth is less likely to be slowing down in cheaper parts of town. The trend held in Boston, Houston, San Diego, and C…

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