Blackstone's $69 Billion Property Fund Signals Pain Ahead

Pain is deepening across the US real estate industry.

Two of the biggest players Blackstone Inc. and Wells Fargo & Co. took steps this week to contend with weaker demand as the industry faces a rapidly cooling property market, rising interest rates and waning investor appetite. Fabio Savoldelli, Columbia Graduate School of Business adjunct professor, talks about the real estate sector on "Bloomberg Markets: The Close."

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