"CEO Howard Lutnick Predicts $1 Trillion Defaults in Commercial Real Estate Market by 2024"

Cantor Fitzgerald CEO Howard Lutnick warns of a "generational shift" in the real estate market, predicting a potential $700 billion to $1 trillion in defaults in loan sales by the end of 2024 and throughout 2025. Lutnick attributes this to high interest rates leading to commercial loans being "wiped out," and foresees a significant impact on real estate equity rates. He also cautions that people are "overly optimistic" about the Federal Reserve and future rate hikes, suggesting that rates will likely remain steady rather than experiencing drastic cuts.