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- Billionaire Starwood CEO Barry Sternlicht sees losses on office properties hitting $1 trillion, per Bloomberg.
- The billionaire slammed the Fed for leaving a "serious mess" in the real estate market.
- Office values have plummeted as remote work proves to be a lasting legacy of the pandemic.
The ailing office market is headed for $1 trillion of losses, billionaire and Starwood Capital CEO Barry Sternlicht said.