I recently listened to an interview with several Freddie Mac executives regarding the performance of their portfolio in the wake of Covid-19. In the interview, they stated that 75% of the loan forbearance requests have come from the small balance loan (SBL) side of their business (basically, 5-50 unit buildings). Also, 94% of the residents in these buildings make less than 100% of the area median income (AMI). 

It seems to me that the aging of this housing stock (and very limited new supply over time) has resulted in this concentration of lower-income residents and kind of short-circuited its antifragility...

I wanted to get the input from those in the ST community who are more knowledgable about antifragility. Does this data undermine the argument for smaller building typologies being inherently more antifragile? Or not at all?