(RECAP: New investors with small or no experience in operating affordable housing are bidding high for aging rental housing communities built with affordable housing programs. “Affordable housing has become a commodity that is traded through brokers,” says Scott Kline, vice president for the National Housing Trust. “And there are a lot of bidders.” These deals can make sense for for-profit investors, at least in the small term. But it’s not clear whether these new, for-profit landlords are up to the challenge of managing these properties or what their long-term plans are for the assets.)

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