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Apartments lead U.S. housing starts
Apartments lead U.S. housing starts

More apartments are coming. A surge of multifamily construction powered better-than-expected gains in home building in September, according to new figures out Friday. The Census Bureau said housing starts climbed 6.3% from August, and through the first nine months of the year are running 9.5% ahead of 2013's pace. Nearly all the gains have come in buildings with five or more units, mostly apartments being built for a fast-growing population of renters. So far this year, there have been more than twice as many apartment units started as single-family homes, both in the Southland and nationwide, and in the last three months, multifamily housing starts have climbed to their highest...

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