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The document is a report on apartment market trends in Gaithersburg/Germantown, Maryland from 1995 to 2008. It provides data on inventory, construction, vacancy rates, absorption, asking rents and effective rents on a quarterly and annual basis. The vacancy rate fluctuated between 1.1-8.1% during this period, while asking rents increased from $763 to $1,315 and effective rents rose from $747 to $1,247. Absorption, which is the number of occupied units, was positive in most years but turned negative in some

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