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When it comes to population, Phoenix might be the fifth-largest city in the nation, but one local real estate expert is saying that the apartment supply is just not meeting the apartment demand. 

Eric Atencio works at Valley King Properties and has worked in real estate since 2000.

“We’re in a 10-year building shortage for multi-family and single-family residences,” said Atencio. He also blames an increase in the minimum wage, the COVID eviction moratorium, and the flock of people moving to Phoenix from all across the country, bringing their high-paying work-from-home jobs with them.