The raw number is an increase. That’s the nice thing about statistics, they’re like a bikini. A good bikini does magic. And like a bikini, what you don’t openly see is what’s usually really important.
In this case, the raw rent number for large complexes has increased. That’s a given. But, if the increase is only 6.1%, and the large complexes have been massively supplemented by bigger, larger, resort style complexes (think The Village Link Irvine Apartment’s new flagship)
That’s all IAC has built for the last four years are places like that and they are still showing only a 6.1% increase.
