WASHINGTON — With the initial development period for privatizing housing for military personnel winding down, coping with uncertainty was the theme at the Bond Buyer’s Military Housing Privitization conference Tuesday.

The great unknown is budget-cutting. Military cuts to the Department of Defense could total $720 billion over the next 10 years under the Budget Control Act of 2011. Other looming factors range from the presidential election in November to stricter underwriting standards.

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