Despite the prospect of the Federal Reserve reversing its rate hikes, a banking executive on Wednesday offered a bleak outlook for the real estate market. What Happened: The U.S. real-estate market is likely to remain “very ugly” over the next two years, said Cantor Fitzgerald CEO Howard Lutnick in an interview with Fox News. The CEO was speaking on the sidelines of the World Economic Forum, held in Davos, Switzerland. Loan sales are going to be a huge business when mortgages on commercial buildings come due, the CEO said, adding that a trillion is due in the next two-and-a-half years. “Real e…
