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Residential landlords winning

It’s still a Manhattan landlord’s market. A new report released by Prudential Douglas Elliman said that the median apartment rent rose 10.2% last month from a year earlier, to $3,195 a month, Crain’s New York Business reported. Even adjusting for landlord concessions, the median rent also rose 8%, hitting $2,938. And rents aren’t likely to drop anytime soon. “It appears that rents will continue to rise,” said Jonathan Miller, chief executive of Miller Samuel Inc., which prepared the report for Elliman. From a national perspective, stronger housing markets helped boost economic growth at the end of the summer in nearly every region of the United States, according to the Beige Book, Crain’s reported.

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