Billionaire Investor Warned: All Real Estate Sectors Will Be Shaken
Billionaire investor Jeff Greene said yesterday that real estate investors should be prepared for a wave of trouble that will create opportunities in the industry.
Greene explained the reasons for the problem as the increase in vacant offices and the slow depletion of the trillions of dollars pumped into the economy during the pandemic.
He stated that these reasons drove the decline in almost all real estate sectors.
Real estate giant Jeff Greene, in his statements to CNBC, stated that the real estate sector will be shaken across the board and gave the following statements:
“What will that mean in terms of demand for everything? Retail, offices, apartments; All real estate sectors will be shaken and I think we are in the first stage”.
TRACKED REMOTE JOB APPLICATION
Demand for commercial real estate has further declined due to the continued prevalence of remote work.
Between 20 and 25 percent of American employees are still working from home.
Goldman Sachs said this week that vacancies will increase by 267 million square feet as office leases expire over the next decade.
EXCEPTIONAL BUYING OPPORTUNITIES
“I think the worst is yet to come when it comes to B and C properties,” Greene said, noting that the discounts won’t hit the office market equally.
“Save your money and get ready because my estimate is that you will see some great buying opportunities in the next 12 to 24 months,” Greene said, noting that such properties may face a complete lack of tenants and therefore a lack of offers.
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
