Cantor Fitzgerald CEO Warns of Potential $1 Trillion Default Wave in US Real Estate
• Cantor Fitzgerald CEO Howard Lutnick warns of a possible $1 trillion debt default wave in US real estate market
• Higher interest rates could make it difficult for borrowers to refinance existing loans
• This could lead to widespread defaults and hundreds of billions in lost real estate equity
• Lutnick predicts "very ugly" conditions in real estate market over next 2 years
• Commercial real estate loans, especially for offices, are seen as highly vulnerable