AUSTIN, TEXAS, UNITED STATES, August 31, 2023/EINPresswire.com/ — According to recent data from MyEListing.com, a commercial real estate listing and data platform, small businesses are feeling the crunch of tighter monetary policy and financial contagion, and over 50% believe that the US is already in a recession.
According to the report, small business borrowing is slowing down, and a significant percentage of those that did borrow were not satisfied with their access to credit.
According to MyEListing.com’s research, the US economy has not technically triggered a recession just yet. “From a technical perspective,” says the report, “a recession occurs when the economy experiences back-to-back quarters of negative GDP growth…from a technical point of view, it would be impossible for the US economy to be in recession at the present time…US Q2 2023 GDP growth (unrevised) actually accelerated to 2.4% from 2.0% in Q1 2023, thus preventing the technical recession trigger from occurring.”
However, thanks to rising debt levels and limited coverage abilities, certain sectors of the economy “might as well be in a technical recession.” This includes the beleaguered office space sector, which is already seeing rising numbers of discounted-loan and distressed-property sales.
According to the report, however, not all is doom-and-gloom just yet: Even within a self-perceived recession, certain segments of the commercial property market hold the potential to provide relief for investors and business owners. This includes industrial property, “as online retail and e-commerce continue to grow”; data centers, as the “demand for data storage and management solutions is rising”; and mixed-used properties, which “offer a diversified risk, as even if the office segment suffers, the residential or retail component can balance it out.”
You can read the full complete report here: https://myelisting.com/commercial-real-estate-news/1703/is-us-in-recession-over-half-small-businesses-believe-so/
MyEListing.com is a national commercial real estate marketplace and data platform. Users can sign up for free and get access to accurate local market intelligence, comp software, a national agent directory, and more. The site also supports other players in the industry, including NAI Global, Colliers, and Cushman & Wakefield.