Interest Rates: Not When, But How High?
As we have heard for the last year or more, rising interest rates are a concern of owners and investors, but they won’t necessarily be soaring to 8% tomorrow, says Marcus & Millichap Investments VP John Barker. However, when interest rates do head in that dreaded direction, John says that they will only rise to nominal levels and will not have the huge dramatic impact that everyone fears. He adds that multifamily is growing in all areas, from Class-A to C, and this is due to the continued job growth and affordable living environments for all levels of employment. He and BMG group have closed 17 deals in the last 12 months, which equates to just over 2,100 units at about $90M in volume. John’s also looking to add quality agents to the team, making a further impact in the multifamily market. For more information on our Bisnow partner, click here.
