Bill Rudin, Rudin co-chair, joins 'Squawk Box' to discuss the state of the commercial real estate market in New York City, real estate challenges, impact of high interest rates,
Mr. Rudin seems assured that rates will definitely come down there by relieving some pain as the market is forced into price discovery! I’m not so sure rates are coming down so CRE prices will only get better. I’m 63 soon to be 64 and I’m the median age of the boomers and a lot of my friends are easing into retirement now and getting much more conservative with their investments and pulling them from the market. This will equate to several trillion dollars over the next decade. Inflation has been stubbornly high around 3%, as the globe deglobalizes and reshoring and onshoring pick up speed- this will be inflationary. So higher for longer is here for several years to come. The numbers don’t lie. The data is in and it says higher inflation!👉📈