Affordable housing bonds

The measure would have requested $20 billion of bond authority from voters in nine San Francisco-area counties; backers said they would try in a later year.

St. John's Lutheran Church in Madison is redeveloping its property to build affordable housing blocks from the Capitol in the booming East Washington corridor.

The new law was modeled after a North Carolina law and its use in Charlotte, said Matt Wiltshire, president of Pathway Affordable Housing Corporation, which works to develop affordable rental housing in Nashville.

States are increasingly turning to public-private partnerships with developers to create new workforce housing so residents can afford to live where they work.

The aim of the program was to create affordable moderate-income housing more quickly by acquiring existing apartment communities and converting the units to below-market-rate as existing tenants moved out.

"What we saw in 2023 was a large surge of issuers coming back into the single-family bond market," said Kurt van Kuller of Sit Investment Associates.

Inflows continued for the third consecutive week as LSEG Lipper report fund inflows of $295.5 million for the week ending Wednesday with high-yield hitting the 10th consecutive week of positive flows.

BofA Securities is the latest firm to scoop up former employees from Citi, which decided to shutter its muni division late last year.

One investor is offloading the debt, while another sees an opportunity.

The North Dakota Housing Finance Agency recently priced $189 million of bonds for its home mortgage finance program, a sector in which issuance has increased.