Fed Keeps Rates Steady (and High)—Multifamily Impacts

The Federal Reserve has thus far not deviated from its projections of 3 federal funds rate reductions in 2024, but it is in no hurry to start. While current elevated rates are not ideal for multifamily borrowers, multifamily investors with a longer-term view of the apartment market and housing demand have markedly increased their intentions to invest this year. Sources discussed in this episode: The Wall Street Journal: “Stocks Gain after Fed Holds Rates Steady” - https://www.wsj.com/livecoverage/fed-meeting-fomc-interest-rate-decision-march-2024 Trepp: "Trepp Property Price Index (TPPI): Rate Cut Speculations Shape Varied Property Sector Performance in Q4 2023" - https://www.trepp.com/trepptalk/tppi-2023-q4-rate-cut-speculations-shape-varied-property-sector-performances Cushman & Wakefield - “Deciphering Today’s Debt Market​” - https://www.cushmanwakefield.com/en/united-states/insights/deciphering-the-debt-market CNBC: “Biden targets ‘rent gouging’ landlords as high housing costs factor into 2024 race” - https://www.cnbc.com/2024/03/19/biden-targets-rent-gouging-landlords-as-high-housing-costs-2024-race.html The White House: “FACT SHEET: President Biden Announces Plan to Lower Housing Costs for Working Families” - https://www.whitehouse.gov/briefing-room/statements-releases/2024/03/07/fact-sheet-president-biden-announces-plan-to-lower-housing-costs-for-working-families/ U.S. Department of Housing and Urban Development: "Existing Policy on Non-Rent Fees in Housing Choice Voucher (HCV) and Project-Based Voucher (PBV) Programs" - https://www.hud.gov/sites/dfiles/PIH/images/HCV_PBV%20Non-Rent%20Fees%20Chart_Final_2-21-24.pdf For the latest multifamily news from across the internet, visit the Gray Report website: ⁠https://www.grayreport.com/⁠ Sign up for our free multifamily newsletter here: ⁠https://www.graycapitalllc.com/newsletter⁠ Learn more about Gray Capital's latest multifamily investment offering for accredited investors: https://www.graycapitalllc.com/new-offering/ DISCLAIMERS: This podcast does not constitute professional financial advice and is for educational/entertainment purposes only. This podcast is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.