SFH Rentals Financing Activity down
Arbor relays this blog article by Trepp, a commercial lender information specialist.
The upshot is that the number of commercial deals being financed reduced from 18bn in 2021 to 11bn year to date. SFH based CMBS are a slightly larger share of the pie from 10% to 14%.
This happens in the context of much higher rates, and Blackstone-owned SFH mega landlord Home Partners of America announced that they drop out of many markets.
This may limit the number of new SFH rentals available on the market, while the move to the burbs may continue. SFH rentals resist better to downturns than other categories. I hear of office space landlords having problems with corporate tenants adopting WFH.
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