Tuesday, September 30, 2008

Bailout Package Will Have Little Impact on Financing Apartment Investments

The bailout package now rumbling around the halls of Congress will have little impact on multifamily financing, the Multi-Family Housing News reported yesterday.

David M. Abromowitz is a senior fellow at the Center for American Progress, focusing on housing policy and related federal and state programs and issues says that the multifamily market thrives better when the homeownership market is not flooded with cheap and easy loans. Since those loans are never coming back, there is good news for multifamily.

Today, Jim Arbury, senior vice president of government affairs at the National Multi Housing Council (NMHC), told the Multi-Housing News “If and when the bailout package passes, it will no doubt have a positive impact on multifamily."