The Real Deal Miami

Apartment buildings predicted to see losses

August 20, 2008 11:47AM

Apartment buildings around the U.S. are starting to see rents and occupancy rates fall in many cities because of job losses. The Down Jones Resident REIT subindex is up 14 percent so far this year, but the overall REIT index is down 1.8 percent. About 1.5 million rental units have entered the market in the past year, and some developers are preparing for lower revenue by canceling or delaying projects.