Office Owners Reeling From Remote Work Now Fret About Recession
Rising interest rates and growing recession fears are compounding the woes of office landlords grappling with the spread of remote work. An index tracking the shares of publicly traded office owners was down 29% over the first two quarters, compared with a 21% decline by the S&P 500 stock index.
Lonely Last Days in the Suburban Office Park
The New York Times
The wooded campus that once housed the global headquarters of Toys "R" Us in Wayne, N.J., is 85 percent vacant today. On a weekday, the parking spots for 1,900 cars are mostly empty. The helipad is unused. So is the corporate dining hall, with its views of the serene grounds.
Housing market warning as prices suddenly fall in one U.S. city
Data tweeted by independent real estate market analyst John Wake showed that prices in Phoenix had been growing steadily throughout 2021 from $365,000 to $458,000, before hitting a peak of $515,000...
New York real estate turns negative as June contracts fall 29%
The Manhattan real estate market had a blowout second quarter, but sales started to take a hard turn in June. CNBC's Robert Frank joins 'Squawk Box' with the...