Housing, particularly multifamily, saw big jumps—and cap rate crushing—during the pandemic. Now? The Mortgage Bankers Association says the brakes are about to hit.
The organization released a new baseline forecast that projected a much slower second half of the year, with total commercial and multifamily financing to fall by 18% from $891 billion in 2021 to $733 billion in 2022.
Separate out multifamily and there's a 10% drop from 2021's record $487 billion to an expected $436 billion by the end of this year.
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