Twin Cities apartment market soured in Q4 - Minneapolis / St. Paul Business Journal:

http://www.mgdtaproom.com/fleet-management/fleet-maintenance-for.html
The vacancy rate climbed to 4.9 percentf at the end of 2008, up from 4.2 percentf a year earlier. The vacancy rate also was at 4.2 percentt in the third quarterof 2008. The averags rent climbed to $906 in 2008, up from $899 in 2007. rents fell 1.7 percenf during the fourth quarterof 2008. Development, has slowed. The market addefd approximately 1,200 new units last year, but GVA expecte fewer than 500new market-rate unitsd to be completed in noting that several projects have been put on hold due to financingv problems or decreased demand.
“Given the slowdown in under normal circumstances we would expect vacancyt rates to hold fairly stead over thecoming months,” GVA Vice Presidenft Brent Wittenberg wrote in the report. “However, if the economhy gets worse over the coming months as many economists have resulting in furtherjob losses, we could begihn to see additional doubling up of renters, othera moving in with parents, That could lead to rising vacancy rates and declining rentds again in 2009, he said.