Suddenly? No. Gradually? That's roughly what's happening in Denver right now - nobody's been building anything but luxury castles for years, but we saw our ave

Suddenly? No. Gradually? That's roughly what's happening in Denver right now - nobody's been building anything but luxury castles for years, but we saw our average rent drop last quarter for the first time since the recession. Reason? There were 11,000 more units available than there were this time last year and there are 40k more on the way, so apartment managers are having to think about vacancy rates instead of myopically focusing on profit per unit for the first time since... probably the recession again. https://www.denverpost.com/2023/01/25/apartments-metro-denver-vacancy-rate-falling-rents/ https://www.denverpost.com/2023/01/25/apartments-metro-denve...