New York Community Bancorp shares fell 38% on Wednesday, partly on worries about the bank’s exposure to commercial real estate. Today on the show, Ethan Wu is joined by Robert Armstrong and FT property correspondent Joshua Oliver, who explain what’s going on with NYCB, and what the bank’s troubles tell us about the commercial real estate market, regional banks and the broader economy. Also, we are both long and short workers returning to the office.

For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer

Follow Ethan Wu (@ethanywu) and Katie Martin (@katie_martin_fx) on X. You can email Ethan at ethan.wu@ft.com.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.