Subprime Mortgage Crisis Helps Boost Tax Credit Project Occupancy

摘要

Ohio low-income housing tax credit projects are experiencing rising occupancy rates as a result of the subprime mortgage crisis. "It's bad news for the homeowners, but good news for the (project) owners," said Hal Keller, president of Ohio Capital Corporation for Housing (OCCH), a regional tax credit syndicator. Overall occupancy rates increased from 94.5 percent in 2005 to 96 percent in 2006 and are still going up, according to Tony DiBlasi, OCCH's chief of asset management. "That is a substantial increase in terms of a swing over a short period of time," he added.