It's "pencils down" for many buyers right now, Colliers writes in its recent capital markets report, as many are waiting for interest rate stability.
"Stubborn inflation, geopolitical concerns, a strong US dollar, and fear of a recession have the market spooked, despite tremendous amounts of uninvested capital," according to the report. "Today's market conditions are abnormal."
Buyers' feelings are showing up in the numbers as each asset class faces challenges to go with uncertainty.
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