MOUNT PLEASANT, S.C. – Mount Pleasant has imposed a six-month moratorium on new apartment building.
Local media outlets report the town council approved the moratorium Monday in a community where about 2,200 new apartments are already under construction or have been approved.
Councilman Joe Bustos says the move is needed because the town has a lot of people, the schools are full and traffic is bad.
But Patrick Arnold of the Charleston Trident Association of Realtors says housing affordability is a problem and the moratorium will only make things worse in a town where the average single-family home sells for more than $400,000.
The Charleston area, Beaufort County and the Myrtle Beach area are among the top 20 fastest growing areas in the nation.