As the Fed continues its attempts to tame inflation, one real estate expert is sounding the alarm on interest rates destroying the commercial real estate industry as a result. Don Peebles, chairman and CEO of The Peebles Corporation, warned of uncertainty shrouding the future of the market during an appearance on "Mornings with Maria" Wednesday.
The real estate expert told FOX Business’ Maria Bartiromo that the problems mounting in the industry "are going to create a lot of headwinds in our economy." Unsurprised by the issues unraveling in the specific market, though, Peebles noted that the problems are "so big" that lenders have to "hope and pray that things get better.
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