Demand For Affordable Family Apartments Outpacing Supply

"Apartment hunters scouring the city can find options ranging from palatial penthouses to spartan singles. But those searching for a simple three-bedroom unit will probably end up empty-handed. The scarcity of larger units is problematic in big urban centers such as Los Angeles, where large numbers of low-income and immigrant families squeeze into small one-bedroom and studio units, housing specialists said. Nonprofit housing developers have taken on the job of building large family-style apartments but in numbers that fall far short of demand...Despite strong demand in urban areas, the three-bedroom apartment remains one of the rarest forms of real estate. Only about 7% of the nation's nearly 16 million apartments have three or more bedrooms, according to the National Multi Housing Council."

Thanks to Christian Peralta