2023 Multifamily Outlook — Rate Hikes, Insurance, Rescue Capital & What's Actually Happening in the Market

The multifamily market in 2023 looks nothing like it did 18 months ago — and some of what's happening right now can wipe out an entire deal or hand the keys to someone else without warning.

In this solo episode, Mark Kenney shares his unfiltered market outlook and breaks down the specific forces investors need to understand going into the year.

In this episode you will learn:

• Why Mark doesn't expect another 350–400 basis point rate move — but isn't betting on a rate drop either

• What's actually available on a loan assumption right now — and the common underwriting mistake that makes the math look better than it is

• The insurance story: $600K annual premium at closing, $3.6M at renewal — and what it means for how you underwrite today

• Rescue capital explained: who it favors, what it does to existing GPs and LPs, and the sell-today test Mark uses to evaluate any rescue opportunity

• Loan rebalancing — what triggers it, what lenders demand, and why relationships are your only real protection

• The operator-lender conflict — why this lender type is the riskiest borrower's nightmare and how equity stripping actually works

This is the honest 2023 market read that most podcasts won't give you.

Join us at our next event at https://thinkmultifamily.com/event

Subscribe to the Think Multifamily Podcast on Apple Podcasts and Spotify.