Magazine article Mortgage Banking

Stevens: Commercial Real Estate Markets Show 'Strength, Resiliency'

Magazine article Mortgage Banking

Stevens: Commercial Real Estate Markets Show 'Strength, Resiliency'

Article excerpt

At the Mortgage Bankers Association's 23rd Annual Commercial Real Estate Finance/Multifamily Housing Convention & Expo, held in February in San Diego, MBA President and Chief Executive Officer David Stevens said signs point positively in 2013 for the commercial real estate/multifamily housing industry.

"We anticipate another year of steady growth for the commercial and multifamily business sectors," Stevens said. "Production is growing ever stronger and a wide variety of capital sources are lending. We have put delinquencies in the rearview mirror and are looking ahead to new originations and growth."

Stevens said five years out of the recession, the multifamily market is strong and the economic recovery is trickling through to the commercial properties.

"You all know more than most just how fragile this ecosystem truly is," Stevens said. "When one part of the system is off-balance, it affects everyone. In a down economy, consumers don't spend and businesses won't grow. Companies won't hire and expand their office space. Neighborhoods and the developing communities and businesses around them won't thrive."

Stevens noted that since the recession, restructuring in the commercial and multifamily sectors has contributed to the positive growth environment. …

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