Does the commercial market get effected at all by the residential market?
I have noticed a little spill over effects. I’ve had some conventional lenders become more strict on their due diligence. At the same time, many of my JV / hard money lenders are lending less or not at all right now. I’m having a hard time finding JV partners and/or hard money lenders for my projects of $5 million and under.
Is anyone else getting this?
I’ve seen the biggest ripple effect in conduit based loan programs—portfolio based lenders are still operating on historical norms.