Rentals on historic pace in New Jersey
Sunday, February 2, 2014 Last updated: Sunday February 2, 2014, 11:05 AM
BY KATHLEEN LYNN
STAFF WRITER
The Record
New Jersey’s got a new pattern of home construction, and it’s much denser and more urban.
In a state long dominated by single-family development, multifamily construction — especially rentals — last year accounted for 57 percent of home permits in the state, and helped to propel home building to its strongest year since 2007.
“It’s probably the biggest rental housing boom in the state’s history,” said James Hughes, a Rutgers economist.
– See more at: https://www.northjersey.com/news/243167861_Homebuilding_has_a_different_face_in_NJ__and_it_s_multifamily.html#sthash.EINkNGQX.dpuf
