60 Minutes Season 36 Episode 16

Commercial Real Estate / Master of the Mind

COMMERCIAL REAL ESTATE –With hybrid work hardening from trend to new normal, correspondent Jon Wertheim looks at the crisis in commercial real estate, specifically in New York City's office sector. As occupancy rates have hit historic lows and interest rates have spiked, the value of office buildings is tanking. It's a growing problem nationwide, with more than a trillion dollars in commercial real estate loans set to expire in the next two years. Wertheim speaks with industry players about how they're staying afloat in a sector of the economy that's been rocked to its foundation. Nathalie Sommer is the producer.