“We expect P&C insurance premiums for commercial properties, including multifamily, will keep rising through 2023,” suggests S&P Global Ratings credit analyst Raymond Kim.
Kim’s comments stem from a report in which S&P Global Ratings analysed 2020-2022 expense trends on 60 loans on U.S. affordable housing properties receiving low-income housing tax credits.
Its review found that from 2020 to 2022, expenses for rated multifamily affordable housing properties in the U.S. increased by a higher percentage year over year than revenues.
