New apartment construction is the fastest growing segment of the housing market. In fact, studies have shown that they are now the biggest share of total new home construction since the 1970s. New rental apartment communities soared 56 percent in 2011, 36 percent the year after, and 25 percent in 2013. They are on pace to increase 9 percent this year, but experts are now calling for an end to the boom due to housing's so-called "Millennial effect."
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