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Relief Eludes Many Renters as Fed Raises Interest Rates


Already, new home construction has dropped sharply as borrowing costs climb, declining 14.4 percent in May to the lowest rate in more than a year. Early data suggest that apartment construction is also taking a hit — something industry executives can attest to.David Wali, who runs the Boise office of the Gardner Company, a developer of residential and commercial properties throughout the mountain West, said the question of whether to build has been clouded by inflation, rising interest rates, and the continued disruption of supply chains, which has builders worried they might finish projects, be ready to rent out the units, “and be left with no appliances.”The State of Jobs in the United StatesJob gains continue to maintain their impressive run, easing worries of an economic slowdown but complicating efforts to fight inflation.Those risks have in turn cau …

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