{"id":7068,"date":"2014-10-22T13:47:15","date_gmt":"2014-10-22T13:47:15","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=7068"},"modified":"2014-10-22T13:47:15","modified_gmt":"2014-10-22T13:47:15","slug":"banks-betting-big-apartment-projects","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/banks-betting-big-apartment-projects\/","title":{"rendered":"Banks Betting Big on Apartment Projects"},"content":{"rendered":"

Banks Betting Big on Apartment Projects<\/h2>\n
\"Banks<\/a>

Banks Betting Big on Apartment Projects. Image courtesy of mapichai \/ FreeDigitalPhotos.net<\/p><\/div>\n

Lenders dished out $172.5 billion in new mortgages for apartment buildings with five or more units in 2013 \u2014 a multifamily lending record, according to a new Mortgage Bankers Association report. It’s an 18 percent gain over 2012 levels, and so far, lending for apartments this year looks likely to meet the 2013 pace.<\/p>\n

The top five multifamily lenders by dollar volume in 2013 were JPMorgan Chase, Wells Fargo, PNC Real Estate, CBRE Capital Markets Inc., and KeyBank.<\/p>\n

“These bigger banks \u2014 Wells Fargo, JP Morgan \u2014 they are starving for loans, and JPM and Wells Fargo, we’re hearing, are very aggressive on these multifamily projects,” Paul Miller, a banking analyst with FBR, told CNBC.<\/p>\n

The surge in multifamily lending has translated into a surge in apartments popping up across the country. Multifamily starts were up 18.5 percent in August<\/a>, according to U.S. Census data. In September, completions of apartments soared to a 24-year high. The number of new apartment units are on pace to top 368,000 this year.<\/p>\n

Still, housing analysts aren’t worried about a bubble brewing from oversupply in the sector. “We view the nation as relatively under-housed,” says David Toti, an analyst with Cantor Fitzgerald. “At some point, the supply-demand ratio could tip into troublesome territory, but I don’t think we’re nearly there yet.”<\/p>\n

As of now, rents remain high and vacancies low across the country. “It’s more difficult for Millennials and first-time home buyers to buy homes, so they’re renting for longer,” Miller notes.<\/p>\n

Source: \u201cBanks Take Big Bet on Red-Hot Apartments<\/a>,\u201d CNBC (Oct. 17, 2014)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Banks Betting Big on Apartment Projects Lenders dished out $172.5 billion in new mortgages for apartment buildings with five or more units in 2013 \u2014 a multifamily lending record, according to a new Mortgage Bankers Association report. It’s an 18 percent gain over 2012 levels, and so far, lending for apartments this year looks likely … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-7068","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nBanks Betting Big on Apartment Projects - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/banks-betting-big-apartment-projects\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/banks-betting-big-apartment-projects\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/banks-betting-big-apartment-projects\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Banks Betting Big on Apartment Projects\",\"datePublished\":\"2014-10-22T13:47:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/banks-betting-big-apartment-projects\\\/\"},\"wordCount\":286,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/banks-betting-big-apartment-projects\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2014\\\/10\\\/ID-100278483.jpg\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/banks-betting-big-apartment-projects\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/banks-betting-big-apartment-projects\\\/\",\"name\":\"Banks Betting Big on Apartment Projects - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/banks-betting-big-apartment-projects\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/banks-betting-big-apartment-projects\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2014\\\/10\\\/ID-100278483.jpg\",\"datePublished\":\"2014-10-22T13:47:15+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/banks-betting-big-apartment-projects\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/banks-betting-big-apartment-projects\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/banks-betting-big-apartment-projects\\\/#primaryimage\",\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2014\\\/10\\\/ID-100278483.jpg\",\"contentUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2014\\\/10\\\/ID-100278483.jpg\",\"width\":400,\"height\":293,\"caption\":\"Banks Betting Big on Apartment Projects. 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