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Paul McMorrow

New units don’t bring rent relief

By Paul McMorrow
November 22, 2011

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Record high rents are luring developers across Boston to rush to get apartment projects in the ground. In the past few weeks, builders broke ground on more housing units than got built in the city in the last two years. combined. This seems like a lot, but the apartment construction rush could actually continue unabated for years without causing a serious glut, or making much of a dent in rents that rank among the country’s highest. The region’s inability to keep up with housing demand is a long-running problem, and one spurt of positive construction activity can’t reverse it.

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