Sam Zell, Chairman of Equity Residential, the largest US apartment owner said he expects rental rates to rise as jobs are added and the economy improves. He expects the rent-buy spread to narrow over the next two years, predicting a slowing in rising home prices and an increase in rents. Mr. Zell believes the rent-buy spread is wider than historical levels and, consequently this spread should narrow over the next year to two years. The rise in home prices and the expected market increase in apartment rental rates are both being driven by a strong employment market. (4.9% unemployment rate just announced is lowest in over four years.)