[biggus diggus]

Rents have not been holding in other saturated areas for a while (Tempe up to Scottsdale) and our higher end apartments in Biltmore have been taking a hit. I think we are experiencing fatigue. Rents went skyrocketing upward and wages did not.

The point of the story is that the thing I've been waiting for has fj ah happened. The mass build out of apartments for $60k+ incomes saturated that market badly but has helped those of us who believe in providing housing for those who need not those who want. I have better quality applicants nearly across the board because I think nearly every blue collar renter is realizing they can get by with a lot less than they have. It's very surprising how many people I've seen coming to me from much higher priced housing in much nicer areas.