As the results of the midterm elections point to a likely-divided Congress at the federal level, local ballot measures across the country bring changes to a number of markets, with some cities enacting rent control measures, dedicating money to building additional housing, or discouraging homeowners from leaving a property vacant for extended periods. While these policy changes are limited to specific markets, at the national level, the apartment market should not expect dramatic changes in the wake of the elections, as investors, buyers, and sellers continue to navigate the elevated interest rate environment and the potential for continued inflation in the immediate future.
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