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ARBOR.COM • 1.800.ARBOR.10
Source: Fannie Mae Multifamily Economics and Market Research Estimates * Preliminary
ARBOR.COM • 1.800.ARBOR.10
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< 3
Sources: Chandan Economics and National Bureau of Economic Research
3 - 5 5 - 7 7 - 9
Duration of Expansion in Years
> 9
Freq
uenc
y
Historical BusinessCycles 1945 — Present