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The competitive landscape in the U.S. wireless industry is also shifting as smaller competitors tighten their operations, introduce aggressively low pricing and seek out deals to combat larger carriers.
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This is quite a turn for a man from Tennessee who likes to call himself "a complete failure." Ramsey's origin story of collapse and rebuilding, told again and again on his radio show and at live events, has become the cornerstone of his popular appeal.
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This shortfall (or equity gap) is expected for the next several years due to various challenges each source faces. For instance, CMBS has been the hottest market, but is still a fraction of what it was pre-crisis, and rising interest rates have already slowed activity. Rates are expected to continue to rise this decade. The GSEs stepped in during the 2008 liquidity crisis and have been the primary support for the multi-family sector, but their regulator has mandated a draw back in their activity, starting with a 10 percent reduction in multi-family loan volume.
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