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The local rental market is mostly healthy even after absorbing 5,000 new apartments in the past few years, but financing challenges will limit new apartment construction for the foreseeable future, two local experts told the Home Builders Association of Greater New Orleans Thursday.

Apartment broker Larry Schedler and investment banker Mark Madderra said that despite some short-term bumps, the long-term prospects for the local apartment market are strong and opportunities exist to bring new types of rental housing to the New Orleans area's largely older rental market. Many of the home builders at Thursday's lunch in Metairie listened attentively, hungry for new types of work because construction demand for new homes is slow.