Investors and developers in the Low-Income Housing Tax Credit (LIHTC) market are adapting to a dramatic drop in pricing over the past year and expecting more uncertainty ahead.
The main concern is that demand for tax credits could diminish once institutional investors calculate the full impact from the Tax Cuts and Jobs Act. However, investors have not yet hit the pause button. They still have ample capital available and a desire to buy tax credits. That is good news considering the bumpy ride the sector has experienced over the past 15 months with pricing that has declined between 15 and 20 percent—effectively 15 to 20 cents per credit.
Read more...LIHTC Market Faces “Mild Turbulence” Ahead
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