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Rental Market Analysis

Rents are going up, sure. But that doesn't mean tenants are gonna sit there and take it. Equity Residential says occupancy for its NYC apartments fell 0.9 percent during the first quarter (its overall NYC occupancy rate is 95.3 percent). Rents for Equity apartments rose 6.7 percent year-over-year, and the drop in occupancy is due to high turnover from unhappy renters. [WSJ; previously]