Make the economy fatter: Weight loss drugs like Ozempic could potentially make the US economy fatter, according to Goldman Sachs. If 60 million Americans were to use GLP-1 drugs by 2028, the US GDP could increase by 1%. Poor health, particularly obesity, can reduce labor force participation and productivity, leading to economic costs. With obesity affecting about 40% of the US population, GLP-1 drugs could improve public health and economic productivity. These drugs, including Ozempic, Mounjaro, Wegovy, and Zepbound, have gained popularity for their weight loss benefits and potential to decrease the risk of heart attacks and strokes. Health improvements could enhance labor market participation and productivity, contributing to GDP growth. (Bloomberg)

Rent Racket: Attorney General Kris Mayes has filed a lawsuit against software company RealPage, Inc. and nine major residential apartment landlords in Arizona, accusing them of conspiring to illegally raise rents for hundreds of thousands of renters in the Phoenix and Tucson metro areas. The lawsuit alleges that RealPage's revenue management software compiled sensitive data on pricing and occupancy from competitors, directing them on which units to rent and at what price. This alleged conspiracy has reportedly led to a 30% increase in residential rents in Phoenix and Tucson over the last two years, contributing to Arizona's affordable housing crisis. (AZ)

Playing hard to get: The Mortgage Bankers Association's (MBA) index of mortgage applications fell 5.6% for the week ended Feb. 23, marking the fifth consecutive week of decline as mortgage rates remained above 7%. The average rate on a 30-year loan slightly decreased to 7.04% last week, down from an October peak of 8%, but still higher than the start of the year. Applications for home-purchase mortgages dropped 5% from the previous week, a 12% decrease compared to the same time last year. Refinancing applications also fell 7% from the previous week, a 1% decrease year-on-year. The Federal Reserve's aggressive tightening campaign, which saw the benchmark federal funds rate lifted 11 times over 16 meetings, has cooled the housing market. The available home supply is down 34.3% from pre-pandemic levels. (Fox)

Now, speaking of weight loss, imagine walking down the street, and where there used to be a McDonald's, there's now a salad bar. 'Yes, I'll have the kale quinoa delight, and can you supersize that?

Ozempic is changing consumer behavior so much that people are 85% less likely to spend on fast food. Somewhere, a Taco Bell chihuahua is updating its LinkedIn profile; skills include: 'Can also promote kale smoothies with existential enthusiasm.'

So, what impact will this have on residential and commercial real estate? Let’s go!