New Apartment Complexes

[Cory Brown]

Hey everyone -- I have a general question.

I've been researching real estate investing for about a year, primarily to get used to the market but also to get things together to be in a position to invest.  I've held a primary interest in multiunit housing, as vacancy rate is the ONLY fear I have going into this.  It seems that just when I was ready to begin searching for an opportune investment, dozens of new multiunit apartment complexes sprang up all over Columbus overnight.  I know where I live (Powell), some of that was due to a city ordinance that recently passed, allowing new development.  But now as I drive around town I see Fro Rent signs everywhere.  Am I reading this right?  Is Columbus in an apartment glut right now? 

Thanks for your insight.