Rents have soared in recent years due to housing shortages and inflation, but a significant number of rental properties, particularly in the South and Southwest, are experiencing financial distress. About 20 percent of apartment property loans could potentially default, as rising interest rates make mortgages more costly for building owners.
While the apartment building sector hasn't reached a crisis point yet, concerns arise as rents stall and fall in various regions like Houston and Tampa. Industry experts worry that a larger number of apartment loans may face distress, with many loans on watch lists indicating potential future problems.
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