We reached out to our 40,000 subscribers, and few people seem too concerned following the failures of SVB and Signature Bank.
After the high-profile collapse of Silicon Valley Bank and Signature Bank, sentiment in our nation's banking system was shaken at some level. We asked our Multifamily Minute readers how they felt it could impact them.
Survey ResultsFind the full results in the table below.
Impact on Multifamily | Percent of Respondents |
|---|---|
It shouldn't have any major effects. | 43% |
It'll get harder to get new financing. | 39% |
Lending costs will go up even more. | 12% |
I'll need to seek financing from larger banks. | 4% |
Other | 2% |
Many of our respondents, 43%, said they don't imagine there will be any major impacts on their properties or financing. The second-largest cohort pointed to loan underwriting standards and general availability of financing as a potential outcome.
One interesting dynamic came through in the comments under the "other" option: Could it be that these banking mishaps could lead to better outcomes for borrowers?Maybe.One respondent mentioned that high-profile regional bank failures could lead to the Fed hitting the brakes on future rate hikes. That's a real possibility, and one we won't need to wait long to find out about. The next Fed meeting is about to begin.My guess is we'll see another quarter-point bump, but I'm definitely open to being wrong.Sign Up for the Multifamily MinuteEach Tuesday, we put a new question to our Multifamily Minute subscribers. If you don't receive our newsletter, now's the time to sign up, we'd love to have your input. Just put your email address in the form below.
Our Previous Survey
Curious what we discussed last week? Property size, and where our readers' appetites are for investment. Check out the analysis.