Surveillance: Central Bank Roundup with Posen
Bloomberg Surveillance
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Optimism on Multifamily Housing
The suburbs have never been more accommodated when it comes to multifamily housing. The cost to get a construction loan for the larger kind of product that say Cortland would develop, this 250 to 300 unit product, is too stiff right now. So July 26 and September 20 are Fed meetings. If they act and it's, I'm not going to say highly likely, but it is probable that they'll find a new rate regime at a higher level. What does that do to multifaith real estate? And for that matter, commercial real estate that you study across America?"
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