July 23, 2024
Commercial real estate is headed for a ‘real mess’ but could avert financial disaster, leading economist says

Commercial real estate is headed for a ‘real mess’ but could avert financial disaster, leading economist says

The commercial real-estate sector is headed for a “real mess” but not necessarily a financial disaster, a leading economist said Monday.

“I expect a major correction in commercial real estate is already under way,” said Adam Posen, president of the Peterson Institute for International Economics.

The cause is not complicated. Office occupancy…

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