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 Gold Nears Record High as Inflation Report Boosts Rate Cut Odds READ MORE Green Bonds Gleam with Promise as Interest Rates Set to Tumble READ MORE Fed Survey: Americans Less Concerned About Future Inflation, More Anxious About Debt READ MORE Gold to Hit $2200 in 2024, Wells Fargo Joins Bullish Forecast READ MORE TSX Breaks Losing Streak as Materials and Energy Sectors Surge READ MORE Add a Comment Cancel replyYour email address will not be published.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