The housing market is onward cours...

The housing market is onward course to hit an eight-year high this year. In the first eight month of 1996 total housing starts rose 1 15 percent above their year-earlier horizontals Multifamily starts grew 9.9 percent in the January within August period. In 1994, they gained 60 percent when the overall market grew just 132 percent; and in 1995 they advanced 73 percent when total housing starts actually savage 7.1 percent.

The multifamily market's expansion during the past three years has largely been the eventuate of an improvement in apartment absorption rates (or rentals). In 1987