Mike Rounds: “Since 2016, more than 900 properties with over 20,000 units…”

“As these mortgages mature, the impact will fall hardest on the Midwest and the south, regions that serve as the backbone of American ag, manufacturing and energy production. We are already seeing the effects. Since 2016, more than 900 properties with over 20,000 units have left USDA's multifamily housing program. On average, about 80 properties per year will mature through 2028. After that, the pace accelerates dramatically, with hundreds of properties expected to mature each year in the following decade.” (02:39–02:50)

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