Peebles Corp. CEO reveals the detrimental effects of remote work on office rentals

**Title:** Peebles Corporation CEO Discusses Impact of New Property Law on Chinese Buyers in Florida | CNBC


Join Don Peebles, CEO and chairman of the Peebles Corporation, as he discusses the implications of Florida’s new property law that restricts Chinese nationals from purchasing real estate in the state. In this interview on CNBC’s ‘The Exchange’, Peebles shares insights on the state of commercial real estate in America and provides expert analysis on the potential economic consequences of this law.

As the CEO of a prominent real estate company, Peebles sheds light on the significance of the Chinese market in South Florida. He highlights its appeal to foreign investors, particularly Russian and Chinese buyers. He also discusses his concerns regarding the potential negative impact on the economy, as well as the restriction on free market principles.

Peebles expresses his opposition to the law, emphasizing the potential harm to individuals trying to sell their properties and the potential slowing down of developments. He questions the authority of Governor DeSantis to determine who can purchase real estate in Florida, viewing this move as a political strategy that may backfire.

Furthermore, Peebles brings attention to the effects of similar policies implemented in other regions, such as Vancouver, which resulted in unintended consequences for smaller buyers. He argues that reduced demand for real estate will ultimately lead to a decrease in property prices.

In addition to discussing the Chinese market, Peebles shares his insights on other potential beneficiaries of this law, such as California and New York, particularly attracting buyers from Eastern Europe. He also touches upon the challenges faced by the commercial real estate sector, including low office occupancy rates and the impact of the pandemic.

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*Note: The transcript of the video is not included in the description as it does not add valuable information or SEO optimization.

Don Peebles, CEO and chairman of the Peebles Corporation, joins ‘The Exchange’ to discuss a new property law in Florida that restricts Chinese nationals from buying property in the state, the health of commercial real estate in America, and more. For access to live and exclusive video from CNBC subscribe to CNBC PRO: 

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