The second quarter of 2024 saw the rate of office vacancy in the United States hit a record high total of 20.1 percent, according to Moody’s tracking.
As reported by Axios, the rise in office vacancy in the last several months has been unusual compared to past trends, as such rates usually only rise during economic downturns. Thus, the rate continuing to increase despite the economy remaining relatively stagnant is an indication of consumers’ and business owners’ ongoing negative sentiments about the current state of the economy.
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