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 Climbs Back Above $2,000 as U.S. Retail Sales Falter READ MORE Warning Signs: Recent Bank Failures and the Fragile Global Financial System READ MORE Affordability Crisis Hits Feminine Care: Sales Drop as Prices Surge READ MORE China Launches Massive $140 Billion Bond Sale to Fuel Economic Growth READ MORE Gold's Rally Leaves Some Market Experts Baffled READ MORE Add a Comment Cancel replyYour email address will not be published.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