Federal Reserve's interest rate cut may stimulate new apartment construction in downtown Chicago.
The Federal Reserve's recent interest rate cut may stimulate new apartment construction in downtown Chicago by making borrowing cheaper for developers. This follows previous rate hikes that raised construction costs and stalled projects. While the cut aims to boost the economy and encourage investment, developers still face challenges like high property taxes and material costs. Analysts suggest further cuts may occur based on economic conditions.
September 18, 2024
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