Wall Street CEO Issues Alert Over US Real Estate Market

Published on January 17, 2024

The chief executive of a top Wall Street company sounded the alarm Wednesday over the U.S. real estate market, saying that hundreds of billions of loans could default in the coming months. Cantor Fitzgerald CEO Howard Lutnick told Fox Business that a generational shift in the real estate market is on the horizon as he warned about a large default in loan sales. “I think $700 billion could default … the lenders are going to have to do things with them. They’re going to be selling. It’s going to be a generational change in real estate coming, end of 2024 and all of 2025,” he told the outlet. “We will be talking about real estate being just a massive change, $700 billion to $1 trillion in defaults coming.”...

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