The U.S. housing recession will bleed into 2023 as elevated inflation and mortgage rates, coupled with stubbornly high building material construction costs, continue to take a toll on the housing industry and are expected to push the overall economy into a mild recession this year.
According to the Mortgage Bankers Association's latest Weekly Mortgage Applications Survey for the week ending January 27, 2023, U.S. mortgage applications decreased 9.0 percent from one week earlier.
According to a new report from the American Institute of Architects, demand for design services from U.S. architecture firms continued to contract in December 2022.
According to new research by CBRE, a new supply of life sciences real estate outpaced demand in many top U.S. life sciences markets in the fourth quarter, boosting the sector's vacancy rate back toward pre-pandemic levels.
Posted on January 17, 2023
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