Experts Continue Lining Up to Sound Alarms on Office Real Estate
As covered in previous articles , the office real estate space is on the brink of a potential downturn. Experts have raised concerns about a mega $1.5 trillion wall of debt looming for U.S. commercial properties. The mortgage debt is mostly held by small- and medium-sized banks and comes due for repayment before the end of 2025. In a recent interview with CNBC , Patrick Carroll, founder, and CEO of CARROLL, joined several other experts in expressing concern about the state of the U.S. commercial real estate market. Carroll suggested that the market is facing a potential crash that could be as devastating as the 2008–09 crisis. He believes that the office market and hotels are going to be destroyed, making the lending market ugly. Carroll told CNBC that lenders are tightening their lending because they don't know where interest rates are going nor how the market will fare. However, multi-family real estate is proving to be a resilient niche in the current market, according to Carrol...