The biggest question around multifamily’s long-term health remains how much, and how fast, these cuts bring relief for loan maturities we know are coming, Dillman said. The real problem happened when the market got hot in 2021 and early 2022, Hague said. People paid low cap rates that were 100 basis points lower than they should have been. Then the market blew up, and now the rates are 200 basis points away from where cap rates are, and there’s no hope of getting out." https://lnkd.in/eKJNkUaz