“For an office building, you can’t get a loan today…there’s no liquidity in the marketplace,” Gottlieb told Fortune. And with interest rates being higher, it’s eating away at a lot of the cash flow, Gottlieb said, calling it a “very trying time.”
In his view, the difference with this office real estate downturn as compared to previous downturns is that office owners are wondering if demand will ever return.
This is why CEOs are pushing return to office. The commercial real estate mortgage backed securities market. Running on fumes like 2008 and they are all invested.
So we get to sacrifice our lifestyles for their capital gains. Ain’t capitalism grand.