MHN asks Freddie Mac’s Brickman about multifamily

Multi-Housing News recently spoke to David Brickman, who became vice president of multifamily at government-sponsored enterprise Freddie Mac in June.

Brickman noted the multifamily market is performing well, indicating he will focus his efforts partly on maintaining momentum during economic recovery. He stated he will likely make efforts to improve operations through better technology use and processes.

According to Brickman, the multifamily sector is likely to continue performing better than other areas of the market for some time, in part because the shift away from homeownership and toward rentership is still incomplete.

He also noted slow construction rates in recent years have kept supply limited as demand grew. He cited increased household formation as another cause of multifamily's recent strength, with more individuals striking out than in the previous few years.

Brickman added Freddie Mac's multifamily spreads have remained relatively steady since a week or so after the S&P credit downgrade of the United States government, and are likely to contract if there is a broader market rally and more stability.