Financing for build-to-rent projects has halted nationwide. This is due to a federal housing bill moving through Congress. Hancock Builders, a Phoenix developer, has seven projects under construction. Founder Greg Hancock stated the entire industry is shut down. Hancock Builders may lay off workers if new projects cannot secure financing.
Phoenix, Arizona
https://www.abc15.com/news/business/phoenix-developers-face-layoffs-as-capital-dries-up-amid-federal-housing-legislation