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For the last four years, many multifamily industry pundits prognosticated that the bull run had endured for too long and the end was nigh. Yet, the economy continued to march along, outperforming and outliving nearly everyone’s expectations, and the rental market was solid—that is until COVID-19 hit, a black swan event no one saw coming.
As a large swath of the country continues to self-quarantine in a quasi-state of limbo between the end of the previous cycle and the beginning of the new one, much of the multifamily marketplace including buyers, sellers and lenders have taken pause.
