Commercial real estate has a rough road ahead as lending dries up, Wall Street CEO says
Commercial real estate faces a painful combination of steeper borrowing costs and stricter lending to the sector, which could prevent the Federal Reserve from raising interest rates further, according to a Wall Street CEO.
"Every time commercial real estate loans come due, they're having a tough time rerolling those loans. Tough markets in real estate coming, tough markets rolling your debt in the credit markets. Tighter credit feels like a weight on the equity markets — it's going to pull us a little lower," he toldLutnick forecasted that out of $1.
"It's going to change a lot of things and it's going to keep the Fed's hands tight. They're not raising rates," he added.
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