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Multifamily builder confidence low in Q4.(Commercial)(Report): An article from: Mortgage Banking [HTML] [Digital]

Gale Reference Team

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Excerpt. © Reprinted by permission. All rights reserved.

The deepening recession and ongoing credit crunch continued to drag down builder confidence in the multifamily housing market during the fourth quarter of 2008, according to the National Association of Home Builders (NAHB), Washington, D.C.

The component of NAHB's Multifamily Rental Market Index (MRMI) that gauges supply conditions sank dramatically in the fourth quarter of 2008, down to 22.4 for affordable apartments and 18.6 for market-rate apartments, compared with 45.3 and 40.0, respectively, from the same time a year earlier, while the supply component of NAHB's Multifamily Condo Market Index (MCMI) fell 11 points from the fourth quarter of 2007, to hit a new record low of 7.8.


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