Housing dominates the news these days. We read about the homeownership slump and how the rate recently fell to 65.4 percent, a 15-year low.
Are these figures good news or bad? What should the government do, or not, about foreclosures? What are the appropriate credit standards and downpayment requirements for families to qualify for a mortgage? Should Congress modify the mortgage interest deduction? What about the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac; the Federal Housing Administration (FHA); the Federal Home Loan Banks?
Housing, considered the wunderkind of the past decade’s economic spurt, is blamed for this decade’s economic downturn. Candidates and policy wonks are proffering solutions, but they’re talking about the single-family market. The multifamily market garners scant attention.
Read more...Multifamily’s Voice Must Be Heard - Finance - Multifamily Executive Magazine