PUYALLUP, Wash. – May 18, 2023 – San Francisco-based real estate investment firm Hamilton Zanze is pleased to announce the...Read
What Is the U.S. Government’s Role in Multifamily Housing?
Despite calls for increased private capital funding and less federal involvement in multifamily financing, experts maintain that federal government-backed GSEs (such as Fannie Mae and Freddie Mac) should play a significant role in the apartment market. Gordon Gerson, managing partner of Gerson Law Firm APC, asserts that, “Affordable rental housing is as much a part of the American Dream as single-family housing. If you take the GSEs out of their traditional role, it could rocket out of control.”
Gerson cites declining single-family home ownership as evidence that GSEs need to play a key role in the future of apartment housing. Ownership has dropped from from 67% before the Great Recession to 64% today and is forecasted to plummet to 51% in the next decade. “Multifamily mortgages and the multifamily market performed better than any other sector of the real estate economy during that period…[because] GSEs expanded to meet market need while other sectors of the lending industry went dark.”
Read more at GlobeSt.com