Would low-income housing tax credit (LIHTC) prices reach an overall average of $1?

They’ve been inching pretty close to that lofty mark this year. A mid-year survey of 17 syndicators finds they paid an average of 97 cents per dollar of credit in the second quarter, up from 94 cents at the end of 2014.

“The competition for 9% deals, regardless of their location, has been fierce,” says Tony Bertoldi, executive vice president, syndication and investor relations, at City Real Estate Advisors. “Negotiations with developers have taken place over several rounds, and pricing is as high as we have experienced in recent history.”