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Bisnow started off the year with a prediction that “you’re probably going to lose money in 2023,” and, well, much of the commercial real estate industry is probably quite happy to put the year in the rearview mirror. From bank failures and layoffs to foreclosures, interest rate hikes and an awful lot of pickleball, CRE was kept on its toes. At least that recession never hit.
As we turn the page to 2024 — another year, perhaps, to plug your nose and get through — Bisnow looked back on the driving forces of 2023.
— Catie Dixon, Managing Editor