US office - June mixed signals
- Arthur d'Hauteville
- Jul 3
- 1 min read
While the office sector still struggles with high vacancy across the US, Trepp has released June 2025 US CMBS delinquency data and office sector is up 49bps at record high 11% delinquency.
These difficulties echo the fears of white collar job destruction per Wall Street Journal article "CEOs Start Saying the Quiet Part Out Loud: AI Will Wipe Out Jobs". Other sector, other drivers, same result : tech giants announce white collar cuts, reportedly driven by the weight of AI investments, led by Microsoft and Meta.
Lastly, on a positive note, Moody's sees stablization for the US office as "conditions have improved", hopefully signaling better days ahead.
Trepp on CMBS June data
WSJ on AI impact on white collar jobs
Inc on tech layoffs
Moody's
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