Even though money from the recent stimulus hadn't yet reached the economy, rates of collections in affordable and public housing were high in December, according to MRI Software.
MRI says collections for public housing reached 97% of 2019 rates, and affordable housing reached 83%. That was the highest level for the latter class since June.
Collections increased as new applications increased significantly YOY in both public and affordable housing, by 56% and 14%, respectively. MRI says this represents a significant shift in direction since the start of the pandemic when new applications trailed the numbers of 2019.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
