Out Of Work Americans Clear Out Of Apartments, Driving Vacancy Rates To 30 Year High

Unyielding job losses and a renewed government push to expand home buying dealt owners of rental apartments a savage blow in 2009. Data complied by the real estate research company Reis Inc shows that the U.S. apartment vacancy rate hit 8 percent in the fourth quarter, an almost 30 year high. The drop in rents was the largest on record.