'Tremendous' Distress in Commercial Real Estate: CEO - CNBC
"It's happening down the road," Scott Rechler, CEO of RXR Realty told CNBC today.
When you look at the commercial real estate market right now, "there is a tremendous amount of distress that is not really visible yet," Rechler said.
Today "the blood is really in the boardroom behind closed doors where people are negotiating to solve problems," he said.
1 comment:
Time is not far where these negotiations for short sale will become public and cause all havoc on the streets.
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