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 Economists Put Recession Odds at 40% READ MORE Larry Fink joins Jamie Dimon and Jerome Powell is sounding the alarm on ‘snowballing’ national debt: ‘The situation is more urgent than I can ever remember’ READ MORE Government Says, Inflation in December Was Even Lower Than First Reported READ MORE U.S. Credit Card Debt Hits Unprecedented $1.13 Trillion, Fed Report Reveals READ MORE Add a Comment Cancel replyYour email address will not be published.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
