A report from the Bellingham Herald in Washington. "Rents in Bellingham and other Whatcom County cities have declined in the past several months according to a new study, but local observers say they’re not seeing rent declines and don’t see the housing crisis easing. Average monthly rent for the Bellingham metro area was $1,547 in June, according to Zillow. That’s an annual countywide drop of 2.2 percent and it shows a steady decline in metro-area rental prices from a peak of $1,672 a month in October 2017. Bellingham rents have been falling steadily since a peak of $1,734 in October 2017, according to Zillow."

"Tom Follis, a Bellingham real estate appraiser and broker, said he suspects that the Zillow report is an aberration. 'I think it’s an anomaly rather than a trend,' Follis said. 'There a lot of ‘for rent’ signs out, no question. But they’re aimed at the college students.'"

The Tribune Star in Indiana. "As two more large-scale apartment projects prepare to open, there are indications the Terre Haute rental market may have reached capacity, especially for certain demographics. Another housing development that has been on hold for more than a year is now undergoing closer scrutiny and a veteran local builder cautions against further investment in rental properties. 'Anyone building rental units right now is making a mistake,' said Rick Jenkins, who has constructed apartments as well as single-family homes. 'The market is very soft in newer, higher-priced units … that are renting for $1,000 per month or more.'"

"Some apartments are offering discounts on monthly rental rates and move-in specials, actions that suggest they are responding to competition."

From Press Connects in New York. "New York City-sized rents — backed in part by a government grant and tax breaks — have arrived in Binghamton. The first wave of an expected 122 apartments at 50 Front St. is now being marketed at prices rarely before seen in the region. One- and two-bedroom units at the city's newest apartment complex are being listed between $1,720 and $2,440. Three-bedroom units are also planned, though pricing on those has not been disclosed."

"Those rents are raising eyebrows among some in the local real estate market. 'I don't know who's going to rent these things,' said Eric Strong, a Binghamton real estate agent who specializes in rental properties. 'It will be pulling a rabbit out of a hat. They are setting a new standard if they can get that.'"

"Among the amenities of this development on the west banks of the Chenango River are a fitness center with cardio machines and free weights; a business center; an outdoor terrace with fireplace; a dog park; in-apartment washer and dryer; quartz countertops; stainless-steel appliances; secure parking below the building; and wifi in all common areas. Rental rates for the apartments are comparable to the mortgage payments on a huge Binghamton home."

The Denver Channel in Colorado. "Residential builders in the Denver area are set to complete more than 15,000 new apartments this year, a substantial increase over last year’s numbers, according to RentCafe. RentCafe estimates that metro Denver will see about 15,187 new apartments completed in 2018. That’s an increase of 150 percent compared to 2017’s numbers and puts Denver among the top three metros in the country for new apartment construction."

"The metro area with the largest number of new apartments entering the market this year is also the country’s biggest city overall: New York. The Big Apple will see nearly 20,000 new apartments by year’s end. Coming in second place is the Dallas-Fort Worth metro area, which is expected to complete construction on more than 17,000 apartments in 2018."

The Colorado Springs Gazette. "Apartment dwellers dug deeper into their pocketbooks during the second quarter as Colorado Springs-area rents hit another record high. Monthly rents averaged $1,156.76 during the April-June period, about $15 more than the previous record set during the same quarter last year, according to the Colorado Division of Housing and the Apartment Association of Southern Colorado. Some of the newest apartments that were opened during the first quarter and being filled in the second quarter were higher-end, amenity-filled units that carry higher rents — likely helping to push up the overall rental costs, said Laura Nelson, the Apartment Association’s executive director."

"'When you get some more of those luxury units coming on line, you do see that bit of a spike,' she said."

"The area’s apartment vacancy rate of 6.3 percent in the second quarter was unchanged from the first quarter and nearly identical to that of a year ago, the report showed. With a total of 49,494 apartments in the Springs area, the 6.3 percent rate translated to just 3,139 vacant units in the second quarter. 'When you take 6.3 (percent) of 49,000 units, that’s not a whole lot for a city our size,' Nelson said."

"The number of units added by builders and developers in the second quarter totaled just 222. During the first half of this year, 234 apartments have been added; a year ago during the same period, the number of new units totaled 770. More units are on the way. 'We need thousands more,' Nelson said. 'It is a complete supply and demand issue. I know people don’t like to see the high-end ones come on line, but really, they still add to the supply. Those folks who can afford them will move up and that will open up a unit that maybe is more affordable for someone else.'"

From USA Today. "Here’s an alternative to both a hotel and an Airbnb: a pop-up hotel. That’s the concept that startup WhyHotel has introduced to Washington, D.C., and Baltimore and hopes to expand across the country. Last year, WhyHotel began operating these pop-up hotels within newly-built luxury rental apartment buildings that have yet to lease out all their units. Once a building is completed, it can take a year or two to fill up. WhyHotel has swooped in to offer owners the ability to make money off their empty units."

"Guests, in turn, can enjoy amenities of the apartment. Some, such as pools, gyms or dry-cleaning services, might even overlap with services offered at a hotel. Jason Fudin, WhyHotel’s CEO, says they can charge a decent premium because 'these are the newest and nicest buildings in the city.' The company recently received $3.94 million in seed funding, which it will use toward opening one or two more hotels this year and another six to 12 next year."

From Patch Illinois. "The owner of a 221-unit apartment tower on Howard Street has put the building on the market less than two years after purchasing the property for $46 million, Crain's Chicago Business reported. The 2008-built building has been sold three times since falling into foreclosure during the Great Recession, Crain's reported. Due to increasing supply of rental property along the North Shore, the median cost of apartments has grown at less than half of the rate of the Chicago suburbs overall."

"There are nearly 1,000 new apartment units currently planned or being built in Evanston, which has increased the risk of oversupplying the market, according to Crain's. HFF is marketing the 415 Premier property as an opportunity for new buyers to carry out improvements and charge higher rents, Crain's reported."

The Journal Sentinel in Wisconsin. "A Walker's Point upscale apartment project that's been decades in the making has started converting its third historic building — with one more to go. River Place Lofts will eventually total about 150 units when that final building is completed on Milwaukee's near south side. River Place Lofts was initially planned as condominiums. Developer Peter Moede began converting the Beam House in 2001, when new condos were going up throughout the downtown area."

"Work on the Beam House stopped for three years while Moede fought a raze order issued by city building inspectors. By the time that dispute was resolved, the condo market was starting to become overbuilt. Moede repaired the fire damage, which was covered by insurance, but put his development plans on hold. Several years after the 2007-2008 housing market collapse and the related global recession, work began on converting the Beam House to apartments. By then, there was strong demand for high-end rental housing throughout the downtown area. The apartments at River Place Lofts' four buildings are being constructed with enough space and high-quality finishes to some day convert to condos, Moede said."

"'It's going to come back,' he said about the condo market. 'But there's still people who want to rent. People want flexibility. They don't want to be tied down.'"

"One-bedroom apartments in the Finishing House will be around 1,000 square feet, commanding about $1,500 to $2,000 in monthly rents. The Dock House also has features not found in most downtown area apartments, such as a lounge where residents can store wine in refrigerated cases; a cigar lounge with a humidor; and a pontoon boat docked along the canal."