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Effect:                   SPOKEN TEXT  SOUND FILE NAME :
                                           According to the U.S. Census Bureau, Alabama has a rental
                                           vacancy rate of 11.8; California has a rental vacancy rate of
                                           3.7; New Jersey has a rental vacancy rate of 4.5; and D.C. is at

                                           5.9. We believe that the smallest rental vacancy rate implies a
                                           shortage  of  housing  because  it  means  that  there  are
                                           proportionately  fewer  houses  on  the  market  for  the  same

                                           amount of people.
                                           WRITTEN TEXT



                                               15.00%

                                               10.00%
                                                                                          Rental Vacancy
                                                5.00%                                     Rates

                                                0.00%
                                                      Alabama      California


                                           Alabama: 11.8%
                                           New Jersey: 4.5%

                                           California: 3.7%
                                           D.C.:  5.9%






















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