Optimism is back in the multifamily lending space, according to the vibe last week at the National Multifamily Housing Council Conference in San Diego.
RealPage Chief Economist Jay Parsons, a panelist at the event, said this week that while 2024 will be a banner year, many are embracing the theme, "It's not getting worse" and it will likely "be a slog" both for operations and to find deals.
Attendees and the industry as a whole continue to wait on the Federal Reserve to take meaningful action in the form of cutting interest rates so as to unleash the "$240 billion in dry powder" on some deals.
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