Wilbur Ross, Billionaire investor thinks the U.S. is in the beginning of a “huge crash in commercial real estate.”

“All of the components of real estate value are going in the wrong direction simultaneously,” said Ross. “Occupancy rates are going down. Rent rates are going down and the capitalization rate — the return that investors are demanding to buy a property — are going up.”

Ross suggests “extreme caution” before putting money into commercial real estate, especially office space, because properties are losing tenants.

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