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Chart of the Week
Rent growth within US commercial real estate has been highly dispersed across property types this year. While rent growth has started to slow for apartments in aggregate, it ultimately still remains high. We expect apartment asking rent to continue to remain elevated, as rising mortgage rates and still high home prices have contributed to a home affordability issue, potentially pricing out marginal homebuyers who may be forced to rotate toward renting.
Source: CoStar, Goldman Sachs Global Investment Research, GS Asset Management.