EFTA Document EFTA01388629

2.1 Economic and Structural Demand Drivers Absorption across the apartment, office. retail, and warehouse sectors has closely tracked the economy over time, advancing (as a share of inventory) at roughly half the pace of GDP growth (see Exhibit 2). Economists have lamented the mediocre pace of the post-financial crisis expansion, with GDP growth averaging 2% compared with 3% in the 2000s and 4% in the 1990s.3 The recovery of CRE demand has also been somewhat weaker. However, since 2013 dema