One metric that stands out strongly in the latest National Multifamily Housing Council Quarterly Survey of Apartment Market Conditions is respondents’ view of multifamily mortgage borrowing. Put simply, it’s considerably dimmer than it was three months ago.
NMHC said Thursday that the survey’s debt financing index declined significantly from 60 in late April to 35 now. A reading below 50 indicates that borrowing conditions are worsening; the council says this is the first time the debt financing index has fallen below 50 since January 2014.
Just 8% of respondents said that borrowing conditions have improved, compared to 32% who said this last time. Conversely, 38% said borrowing conditions have worsened, compared to 12% who gave this response in April.
Read more...MF Execs See Tighter Debt Conditions - Daily News Article - GlobeSt.com
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