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May Housing Starts Plunge Amid Market Volatility
Housing starts fell sharply in May, HUD and the Census Bureau reported Thursday, as continued market volatility and higher interest rates took a toll on both consumers and home builders.
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Office Sector Future Still Murky
CommercialEdge, Santa Barbara, Calif., said the office sector’s future remains murky, even more than two years after the COVID-19 pandemic started.
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MBA: Record-High 1Q Commercial/Multifamily Mortgage Debt Outstanding
Commercial/multifamily mortgage debt outstanding increased by $74.2 billion (1.8 percent) to record levels in the first quarter, the Mortgage Bankers Association reported Thursday in its quarterly Commercial/Multifamily Mortgage Debt Outstanding Report.
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Initial Claims Dip Slightly
Initial claims for unemployment insurance fell slightly last week, reversing the previous week’s increases, the Labor Department reported Thursday.