Financing multifamily rental housing: The changing role of lenders and investors |
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Authors: | Denise DiPasquale Jean L Cummings |
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Institution: | 1. Associate director at the Joint Center for Housing Studies , Harvard University;2. Research analyst at the Joint Center for Housing Studies , Harvard University |
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Abstract: | Abstract A broad consensus exists that there are significant barriers to accessing capital markets for multifamily rental housing, particularly for housing targeted at low‐and moderate‐income households. While there is a growing secondary market for multifamily mortgages, the market is in the early stages of development and remains quite small. Expanding this market requires increasing standardization of mortgages, increasing credit quality with better underwriting and credit enhancement, and educating investors as to the risks and returns of multifamily investments. In addition, dramatically improved data collection on the performance of multifamily investments and analysis on the determinants of success are needed. |
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Keywords: | Growth management Housing Minorities |
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