I ran across this story in the WSJ yesterday and thought I would pass it along.
Here is an excerpt:
"In many markets, our new prospects are beginning to resist the current
and increasing levels of market rents we’ve enjoyed over the past
quarter," David Neithercut, chief executive of Equity Residential,
told investors during this month’s earnings call. While the
Chicago-based apartment owner, one of the largest in the U.S., reported
an increase in funds from operations of 1.5% last quarter, it lowered
its estimates for comparable-property revenue growth.