It was widely believed that the US would be in a recession by now, but that is not the case – it's one of several 2023 forecasts that didn't play out exactly how many thought it would.
As the year comes to an end, Marcus & Millichap looked at commercial real estate's asset classes to determine which ones underperformed compared to expectations set going into 2023 and which overperformed.
The 5.2% GDP growth in the third quarter really reiterated just how far off those recession predictions were, said John Chang, Executive Vice President of National Research and Advisory Services for Marcus & Millichap in his firm's recent news video.
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