The New York-based startup, which launched last year, processes $3 billion in annualized rent payments, and its Bilt Mastercard customers are spending at an annualized rate of $1.6 billion.
Rent gains are finally starting to slow in many parts of the U.S., cooling a years-long boom that sapped affordability from coast to coast. Landlords have little choice but to ease off big increases: Demand from tenants is suddenly sinking.
One way in which apartments are different is that it has always taken longer to build them than single-family houses.
The city of Chicago owns some 10,000 vacant lots, with a large concentration in economically-challenged neighborhoods that have experienced decades of underinvestment. Selling them could help reduce overall crime. It could also boost affordable...
Some sources of financing are drying up, but overall multifamily fundamentals are strong enough to keep funds flowing to borrowers.
Which U.S. cities have ramped up their new apartment deliveries over the past few years?
Rents rose 7.8 percent in September to a median $1,759, slowing from double-digit increases seen for more than a year, data from Realtor.com shows.
