The Office Meltdown Will Result in $1 Trillion of Losses, Says Real Estate Billionaire Barry Sternlicht, the billionaire CEO of Starwood Capital, has forecasted a massive $1 trillion loss in the U.S. office market, attributing the decline to the permanent shift towards remote work post-COVID-19. According to Sternlicht, the U.S. office market, previously valued at $3 trillion, has plummeted to around $1.8 trillion. He described this downturn as an “existential crisis” for the office segment of the commercial property market and criticized the Federal Reserve for exacerbating issues within capital and real estate markets. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts True Inflation May Have Peaked in Late 2022 READ MORE 56% of Americans can’t afford a $1,000 emergency expense: We are ‘living in a paycheck-to-paycheck nation,’ money expert says READ MORE Fed's Latest Stress Test Scenarios: Banks Brace for Hypothetical Global Recession READ MORE Fed’s dovish pivot ‘inertia’ may spell trouble for long-term bonds, BlackRock says READ MORE "I've Been Warning About THIS For a YEAR, Well Here It Is" Decoding the Banking Sector Plunge READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment
