"More than a half-billion dollars in new loans were placed in the third quarter of 2002," NIC executive director Robert G. Kramer notes. "That news was encouraging, as it represented a 63% increase in total project financing from the previous quarter. It was also the largest quarterly amount we've seen flowing into the industry in about two years." While a few sectors of the senior-housing market showed negative numbers, negative numbers do not necessarily mean bad news. Construction starts for assisted living declined, but the industry still needs to absorb capacity so those low numbers could lead to positive results. On the other hand, construction starts for nursing homes, as opposed to assisted-living properties, reached a high not seen since 2000.
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