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 ZeroHedge: Inflation Already Ruined Your Super Bowl Party READ MORE Regional Banks Continue to Tumble READ MORE Gold hits fresh record as rate cut hopes build after data shows inflation ease READ MORE Dimon Highlights Commercial Real Estate's Recession-Contingent Future READ MORE This Tax Tip Could Save You Thousands READ MORE Add a Comment Cancel replyYour email address will not be published.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
