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 Middle East Tensions Propel Gold and Silver Prices READ MORE Mortgage Rates Continue to Climb in February READ MORE Zimbabwe Eyes Gold-Backed Currency to Fortify Financial Stability READ MORE Dimon Highlights Commercial Real Estate's Recession-Contingent Future READ MORE Currency Volatility Is Back as Geopolitics Add to Dollar Bets READ MORE Add a Comment Cancel replyYour email address will not be published.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
