logo
episode-header-image
Jun 2023
13m 38s

Will empty offices hurt the US economy?

Financial Times & Pushkin Industries
About this episode

The persistence of working from home, the rise in interest rates, and job cuts in finance and tech all spell trouble for the owners of office buildings. How bad will it get? And will the troubles in commercial real estate spill over to the broader economy?


Links:

- Read the Unhedged newsletter on commercial real estate and office REITs.


For a free 90-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer


Follow Ethan Wu (@ethanywu) and Katie Martin (@katie_martin_fx) on Twitter. You can email Ethan at ethan.wu@ft.com.


Read a transcript of this episode on FT.com


Hosted on Acast. See acast.com/privacy for more information.

Up next
Jul 16
Should private credit be public?
Stocks offering access to private credit funds have taken off, and crashed, in recent years. Is this the fiery end to a bad idea or a golden chance to buy a piece of a good idea? Today on the show, Katie Martin and Rob Armstrong look at the arguments for retail access to private ... Show More
21m 20s
Jul 14
Everything is awesome … for banks
Five US banks reported earnings this morning and they were all terrific. Today on the show, Lex editor John Foley joins Rob Armstrong to discuss the stunning results for banks and why it’s all part of the AI boom. Also they go long Count Binface again and long hog farms turning i ... Show More
14m 17s
Jul 9
The Fed’s silent treatment
The US-Iran conflict is back on, inflation is sticky and US interest rates are steady — for now, anyway. Today on the show, Katie Martin and Rob Armstrong discuss the quieter Fed under new chair Kevin Warsh, and try to make sense of his silence. Also, they go long ducks and novel ... Show More
21m 56s
Recommended Episodes
May 2023
5-10-2023 – Will Commercial Real Estate Be the Next 'Shoe to Drop'?
There are more empty office spaces now than during the 2008 financial crisis. These vacancies could spell trouble for downtown city centers and the broader commercial real estate market.(Post pandemic: Return to the office lags — affecting commercial real estate)Today's Stocks & ... Show More
46m 55s
Aug 2023
1034 - As the Commercial Market Falls Apart, These Three Assets Could Be Your Next Big Opportunity by Lindsay Frankel
Offices across the country are still sitting empty. The nationwide office vacancy rate reached a high of about 20% in the first quarter of 2023, according to JLL, and while big tech companies are pressuring workers to return to the office, the hybrid work model has led to an incr ... Show More
12m 41s
Aug 2023
1025 - The Biggest Crash Imaginable is Coming For Commercial Assets by Dave Meyer
Commercial real estate is facing a lot of stress. Many analysts and investors, including myself, expect to see significant value declines across much of the sector in the coming year. But one particular type of commercial real estate is facing the biggest crash potential of all: ... Show More
12m 39s
Sep 2023
The Office Space Depression
Office real estate appraisals are seeing haircuts worse than the depths of the great financial crisis.  (00:21) Ron Gross and Matt Argersinger discuss: - The Fed walking its talk and maintaining the expectation of another rate hike. - How office real estate is showing signs of t ... Show More
41m 31s
Dec 2023
Now & Then: Understanding CRE in 2023
2023 was a challenging year for commercial real estate, driven by sharply rising interest rates, economic uncertainty and continued slow progress on return-to-office plans. Join us as we look back at everything from market conditions to labor issues to office amenities to emergin ... Show More
29 m
Jul 2022
America is out of office
If it feels like everyone’s out of office right now, it’s because a lot are on vacation or out with COVID-19. The absences are forcing businesses to scramble and serve as a reminder that workers are rethinking work-life balance and that the pandemic still runs this economy. Plus, ... Show More
27m 12s
Mar 2024
InvestTalk 3-18-2024 – US Office Market Is World's Most Oversupplied
The sector has borrowed too much money and a jump in people working from home has emptied many offices in the United States, pummeling the value of property assets. Today's Stocks & Topics: FNMA - Fannie Mae, Market Wrap, NKE - Nike Inc. Cl B, US Office Market Is World's Most Ove ... Show More
46m 49s