Dallas’ Ross Perot Jr., whose family is one of the largest independent property developers in the country, is warning of a looming real estate recession if...
‘The key to commercial real estate today will be banking,’ says the billionaire behind some of North Texas’ biggest corporate campus projects.
Ross Perot Jr. speaks with MP Materials executives James and Steven Litinsky , during an April 2022 groundbreaking in Fort Worth for MP Materials' new factory that will produce magnets expected to support 500,000 EV motors every year.Dallas’ Ross Perot Jr., whose family is one of the largest independent property developers in the country, is warning of a looming real estate recession if banks don’t start lending again.
“If the industry can’t get a construction loan, real estate will have a recession,” Perot said in an interview on Bloomberg TV on Wednesday. “The key to commercial real estate today will be banking.”Perot, 64, said it’s gotten so hard for firms to get construction loans, even for industrial buildings, that his company Hillwood is helping to finance other developers.
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