Affordable Housing Market Forecasts Promising Growth, Reveals Market Research Report [Yahoo! Finance]
SKANSKA AB S/ADR (SKBSY)
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Source: Yahoo! Finance
The global affordable housing sector is witnessing an upward trajectory, according to the latest industry report now available for review. The comprehensive analysis projects the market to grow from $51.05 billion in 2022 to $54.26 billion in 2023, with a noteworthy compound annual growth rate (CAGR) of 6.3%. Despite the challenges posed by the Russia-Ukraine conflict, the affordable housing market remains resilient, expected to attain $67.17 billion by 2027, progressing at a CAGR of 5.5%. The impetus for this growth is attributed to the increasing accessibility of home loans, which bolster homeownership and address housing affordability concerns. Recent data reflects in the first quarter of 2023, there has been a significant elevation in total household debt, corroborating the trend of growing home loan availability fueling market expansion. Technological Innovations Pave the Way in Affordable Housing Rapid advancements in technology are shaping the landscape of affordable housing
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