In an article about one cancelled and one stalled development, CRER director Howard Wall “said uncertainty involving interest rates, inflation, tariffs and the strength of the broader economy may cause banks to feel less willing to lock in on anything. The cost of housing materials didn’t really decrease after the pandemic.”
“You look at the housing market the last few years, and it was really going gangbusters,” Wall said in a phone call. “I wouldn’t be surprised if a lot of the bankers are a bit skittish that this is the repeat of a housing bubble.”