Banker’s Mixed Bag
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|Citizens Bank?s Kevin Boyle (left) agrees that the office market?continues to be soft.? After we took this recently, he told us he isn't getting loan applications for new office construction and doesn?t expect to until there's more job and population growth. ?It's almost like we need a new industry to spur growth.? His notes that retail is holding up better than many had expected. Meanwhile, multifamily in Boston is doing well and the bank is seeing loan requests in that sector. One reason: lots of students. ?Despite construction of new college dorms, there's still demand for off-campus housing."|