Freddie Mac finds big drop in units remaining affordable at second financing.
The shortfall of affordable rental units has widened considerably during the past six years, according to a new report released by Freddie Mac Multifamily.
The research finds that a combination of increasing rents and stagnant household incomes is causing the growing problem, which could become even worse if actions are not taken to increase the supply of affordable units commensurate with the increasing demand from lower-income renters. Previous Freddie Mac research has found that growing demand and rising costs of land and construction have led to a widening supply gap—with the country experiencing an annual shortfall of approximately 400,000 housing units, even when taking single-family starts into account.
Steve Guggenmos
The latest report takes a new approach to analyzing affordability, looking at loans that Freddie Mac Multifamily financed multiple times between 2010 and 2016. The mortgage giant examined loans covering more than 97,000 units..........Read More
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