Trending claims

Hotel occupancy rates have declined in many areas as business travel has waned given growing popularity of virtual meetings

Office vacancy rates have climbed provoking decline in office real estate values

Hotel conversions account for additional 22 percent

Factories and warehouses [account for] another 17 percent

Local governments have encouraged conversion of facilities to alternative uses to support local property tax base

Housing and affordable rental housing is popular target for these conversions

Almost 71000 office-to-apartment conversions were underway nationally

House prices nationally have increased 50 percent from pre-pandemic levels

Housing starts increased 16 percent over 2020 levels in 2021 when economy was emerging from pandemic

Construction downcycles are often short-lived

Insurance premiums increased more than 50 percent nationally between 2019 and 2024

Mortgage rates recently stuck in 6.75 percent to 7 percent range for 30-year fixed rate mortgages

Spending has declined compared to year-ago levels through first five months of this year

Housing starts in 2025 have not improved from 2024 levels

Commercial sector offices retail and hotels [is] leading downturn

Last year saw additional 6.5 percent increase bringing three-year growth total to almost 50 percent

Rebound accelerated to 23 percent growth in 2023

Conversion of commercial facilities to residential uses provides basis for optimism

Recovery in homebuilding activity seems unlikely soon

Spending on nonresidential buildings is expected to slow this year