The Federal Reserve's May 3 meeting is a key date for the CRE industry.

Innovation is the industry's cornerstone, and the failed bank was a main supporter.

The vacancy rate rose for a second consecutive quarter to 3.6%.

Expect the climb to persist if there is a continued crunch on corporate earnings.

It sees too many financial headwinds for the sector to continue its strong performance.

Elevated interest rates and overall costs are expected to curb most development.

The lowest rate of senior housing construction since 2014 is one driver.

It's planning for roles that require less physical labor and have a higher rate of pay.