From the New Jersey Market Report: Developers hoping to get in on the boom rolling across Northern New Jersey may have a tougher go with lenders than they did a couple of years ago.
While the spigot for loans is still open, especially from balance-sheet organizations like banks and insurance companies, it’s gotten tougher in recent months to lock down financing, according to developers, real estate brokers and loan brokers.
Some industry insiders blame turmoil in the stock market — which can affect the value of securitized loans — for the retrenchment. [more]