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In spite of a setback during the recession, apartment prices in our region have more than doubled since 2000. What caused prices to climb from less than $70,000 a unit in 2000 to more than $140,000 a unit so far this year? Investors should be willing to pay more for properties as revenue climbs, so rents clearly pay a pivotal role. But do rent changes in the past dozen years explain all of the price increase? Let's take a look.