Good morning, investors. In today’s commercial real estate news—the apartment vacancy rates are hovering around 4.3%, banks are scaling back on their lending, and the time for investing in medical buildings may be over.
People are filling apartments as fast as they’re being built. Vacancy rates hover around 4.3%, similar to what it’s been the last few quarters.
As of last week, banks had not increased lending to commercial and industrial developers for six months, the longest stretch of time since the recession. Consumer loans have also fallen, especially in the auto sector. So far, there’s no consensus on what this all means for the economy.