Despite mortgage rates being double what they were two years ago, the overall borrowing environment remains favorable for state and local entities.Key initiatives driving this surge include efforts by entities like the Michigan State Housing Development Authority, which recently launched a $425 million bond sale aimed at providing affordable mortgages to over 2,700 families.

What is the rate of inflation now?  

I do a lot in Detroit.The quick good/bad:- S8 tenants tend to be rougher on the property (but not always)- Paperwork/inspections/etc. can be burdensome and tough to navigate (especially initially)- People often think FMR rates are guarantee rental rates but that's not the case- Usually the rent isn't 100% subsidized and a lot of people don't realize this- S8 tenants tend to stay a lot longer than cash tenantsOverall, I'm neutral on the program.

With borrowing rates as high as they are, it could be difficult to maximize income by 1031 exchanging into a rental that is both (a) financed, and (b) in an urban area where prices may still be close to 2023 peaks. 

Curious to hear what folks think this will do to mortgage rates, especially since it's arriving on the heels of a booming jobs report.

Interest rate?

Typically interest only for a couple years, rate a little higher but i/o payment lower.

Space rated 3 Star is the most dominant subtype, with a total number of 392 units in this category, followed by 224 units of 1 & 2 Star space.

exchange rates?

As soon as interest rates started climbing distributions got paused.