Much of the commercial real estate industry has been closely watching the Federal Reserve and the promise of interest rate cuts that could bring back easier times in purchasing and refinancing.
But there have been doubts among some experts as to how far rates could fall. Fed Chair Jerome Powell said in congressional testimony in July, "I think we probably won't go back to that era between the global financial crisis and the pandemic, [when] rates were very low, and inflation was very low."
Now RXR CEO Scott Rechler, in a conversation with Bloomberg, said that across the CRE spectrum, commercial real estate faces a "new paradigm" of where interest rates will sit.
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