Trouble for the D.C. Office Market—No Matter Who Wins the Election

WSJ What’s News

The Wall Street Journal

Daily News, News

4.1 • 4.2K Ratings

🗓️ 23 July 2024

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for July 23. The office market in Washington D.C. is in trouble, facing rising foreclosures, plunging values and record vacancies. Reporter Peter Grant explains how the outcome of the 2024 presidential election could affect its fortunes. And Secret Service Director Kimberly Cheatle resigns after backlash over the attempted assassination of Donald Trump. Justice Department reporter Sadie Gurman has more. Plus, Vice President Kamala Harris makes her presidential campaign trail debut. Francesca Fontana hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:18.0	The Director of the Secret Service has resigned over the near assassination of Donald Trump.
0:27.0	And, D.C.'s office market is in trouble, with record vacancy rates and plunging values and the outlook is grim.
0:35.0	I would say that whether Trump wins or the Democratic candidate wins,
0:40.0	the outlook isn't great for the Washington market.
0:43.0	Plus, what's driving U.S. home sales higher and Americans out of the housing market?
0:49.0	It's Tuesday, July 23rd.
0:51.0	I'm Francesca Fontana for the Wall Street Journal. This is the PM edition of
0:55.0	What's News? The top headlines and business stories that move the world today. Secret Service Director, Kimberly Cheetel resigned today amid bipartisan outrage over
1:09.4	her agency's failure to stop the near assassination of Donald Trump during a campaign rally.
1:14.8	Homeland Security Secretary Alejandro Meorka said Ronald Rowe, the agency's deputy director,
1:20.2	and a 24-year veteran of the service will serve as its acting head.
1:24.0	The departure of Cheetle, who was appointed by President Biden in 2022,
1:28.0	follows yesterday's intense congressional hearing during which, as you might recall,
1:32.0	she offered minimal new information
1:34.1	about the July 13th assassination attempt in Western Pennsylvania.
1:37.6	Justice Department reporter Sadie Germin joins me to discuss Cheetel's
1:41.8	resignation.
1:43.0	Sadie, this doesn't really come as a surprise, right?
	...

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