The new head of the Federal Reserve, Janet Yellen, recently had some chilling worlds for the housing business, complaining about very slow rates of new household formation. “We need to see some pick-up in household formation in order to see continued recovery in the housing market,” said Yellen in testimony before Congress on May 7. That’s concerning news for the apartment business. Developers are going to need lots of new households to form up to fill all the new ...
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