Some Good News if You Work on Apartment Properties

While there's not much good news in the property management market lately, a report from Freddie Mac might just open the door for more work for contractors who work on multi-family properties. A report in the August 31 Wall Street Journal says Freddie Mac, "the government-backed mortgage giant," "plans to accelerate its program to purchase loans backed by apartment buildings." According to the article Freddie Mac will fund more than $16 billion in apartment building loans in 2011, up from $14.8 billion last year -- and most of the spending will come in the second half of 2011. The upshot is that this will increase the availability of financing for landlords, which the Journal says will help "bolster the multi-family real estate market."