Biting cuts came to the nation’s health and science agencies last week, with thousands of layoffs and millions in budget reductions roiling organizations like the National Institutes of Health and Department of Health and Human Services.
The reductions in overall spending capacity and grant funding will clamp down on a key pipeline that pumps dollars into the life sciences sector, a hindrance likely to place more strain on an already stumbling segment of the commercial real estate market.
Coupled with rampant uncertainty in financial markets, trying to divine the size and duration of the cuts’ impact has touched off a new wave…