United States and North America
  • Mortgage Pressure: Average 30-year fixed mortgage rates have surged to nearly 7%, keeping July pending home sales down 2.3% and stifling broader buyer activity. 
  • Construction Costs: U.S. lumber prices hit a four-year high amid escalating Middle East geopolitical tensions, adding further friction to development. 
  • High-End Divergence: While standard activity slows, luxury markets and trophy assets—such as Ken Griffin's rumored $700M+ acquisition of Mana Wynwood in Miami—continue to command massive capital.

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