NMHC –
Meeting Multifamily Housing Finance Needs During and After the Credit Crisis documents the growing importance of rental apartments and points to a looming liquidity crisis that could seriously impair the sector and lead to a critical housing shortage if legislatively mandated reductions in the GSEs’ portfolios take place starting next year as scheduled without a substitute liquidity backstop in place.
It seeks to educate policymakers about the key differences between the single-family and the multifamily sector—as well as between the apartment sector and the broader commercial property market—and makes the case for short-term and long-term federal support of rental apartments.
The policy paper is the product of a symposium on the future of multifamily financing convened jointly by NMHC and Harvard’s Joint Center the day after November’s presidential elections. The one-day event and the resulting policy paper lay the groundwork for our advocacy efforts related to the nationalization of Fannie Mae and Freddie Mac and the future of the secondary market for multifamily mortgages after the conservatorship of the two firms ends.