After one of the worst postings on record, spring came with an uptick for starts and permits in March, according to recently released data from the U.S. Census Bureau and HUD. But although there is evidence of a slight upward trend, the industry remains a long way down, and it isn’t clear whether this is the first step in an upward trend or is just a blip as home building bounces along the floor.
While several factors have combined to align the stars for multifamily housing, financing is one of the most critical. While single-family home builders have had to battle banks to get money for projects, multifamily builders report that they’re flush with investor cash. And it is access to cash that is key to determining when the rest of the industry might follow the uptick being enjoyed by multifamily builders. (Builder)