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Larry Summers Warns Commercial Property Could Face Recession

Lawrence “Larry” Summers, the former U.S. Secretary of the Treasury, has cautioned that the Federal Reserve’s focus on fighting inflation could tip the commercial real estate industry into what he calls a “recession of choice.” So reports Commercial Property Executive.

Larry Summers HeadshotSpeaking in a video call, Summers called it “unlikely” that the economy would go into a recession on its own—in other words, without the Fed’s expected rate hikes—over the next two years. While Summers cited robust job growth and economy-wide supply strength, and noted solid signs for expansion in commercial real estate, he warned that the sector and economy as a whole might eventually be hit with a slowdown.

Read the full article from Commercial Property Executive.

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