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The apartment is proving to be a major source of economic activity, jobs, and personal earnings.

Apartment housing contributed $1.1 trillion to the national economy and it has supported 25.4 million jobs. What’s more, apartment residents spend more than $420 million on goods and services, such as furnishings, moving, and cleaning costs — 70 percent of which remains in the local economies, according to the National Multi-Housing Council and the National Apartment Association.

The apartment industry spent $67.9 billion to operate and the 19.3 million across the nation, more than quadruple the amount spent on , according to the report.

Stephen S. Fuller with ’s Center for Regional Analysis told that attention is focused on homebuilding and the single-family sector but the economic impact and contributions of multi-family housing often gets overlooked.

Source: http://realtormag.realtor.org/daily-/2013/02/18/multifamily-sector-gives-economy-big-boost

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