As the pandemic begins to recede and the economy starts to recover, multifamily investors are positioned to take advantage of opportunities as they unfold, thanks in large part to government relief, forbearance programs, and the steps the agencies took last year to stabilize the market. By casting light on the plight of essential workers, the pandemic has also underscored the depth of our affordable housing crisis. Clearly, much more needs to be done. Can we expect progress in 2021?
Charles Ostroff, Multifamily Chief Credit Officer at Fannie Mae, and Kimball Crangle, Colorado Market President of Gorman & Company, a specialist in affordable and workforce housing, shared their perspectives on the way forward in a conversation on March 24, 2021 moderated by Lument CEO James Flynn.
The conversation examined the multifamily sector as a whole, including the current outlook for different property types and geographies. It then zeroed in on the specific challenges and trends shaping the future of the affordable and workforce housing market, identified emerging opportunities, and examined steps the new administration, Congress, and the agencies might take to accelerate the development of new properties and the revitalization of older ones.