At Colliers, we understand the importance of interconnected data, macroeconomic trends, and anecdotes in real estate decisions. With that in mind, here are 10 numbers that have recently caught our attention.
- The Nasdaq composite rose 32% in the first six months of 2023, thanks to a boom in artificial intelligence.
- Spending on manufacturing facilities accounted for 0.5% of GDP in the first quarter, the largest total since 1991, the Wall Street Journal noted.
- Overall spending on manufacturing facilities is up 146% since January 2020, per the U.S. Census.
- June manufacturing activity contracted for an eighth straight month, reported the Institute for Supply Management.
- E-commerce product returns amount to $816 billion annually, and processing them takes two to three times longer than the initial order, per Fortune.
- Bisnow reported that roughly 22% of Boston’s property taxes come from office buildings, and in San Francisco, that total is up about 18%, per the San Francisco Standard.
- Burlington stores will take over 50 former Bed Bath & Beyond leases across the U.S., which is about a 5% increase in its store count.
- The threshold for large multifamily loans moved up to $120 million from $75 million, increased by the Federal Housing Administration.
- The Federal Reserve, FDIC, OCC, and NCUA issued guidance to financial firms that they should work with borrowers of commercial real estate loans by offering short-term loan accommodations, such as deferred or partial payments, Bloomberg reported. The Mortgage Bankers Association estimates that $1.7 trillion of loans are on depositories’ books.
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