Hello fellow rebel capitals hope you're well so let's not forget about commercial real estate.

We have been seeing this crisis loom for maybe a year, year and a half now.

But these things take a lot of time

to actually play out.

As an example, residential real estate

didn't crash all of a sudden in 2008. The crash began even with

subprime way back in 2006. In fact you guys know from watching my videos that I

like to go back and read old copies of the Wall Street Journal.

And even in 2007, when the Fed started cutting rates and whatnot, they were doing so in response to what was a large part of their rate cuts were

due to a response for the residential real estate market and they wanted to give a break to people that

were having to roll over these adjustable rate mortgages these arms right and so this was well known. It's not like everyone was saying, oh, we're

fine, nothing's going to happen here. Well, they were saying that, but it's not like they weren't even cognizant of the problem with

subprime and residential. It's just no one thought it was going to be a big deal. My point is the exact same thing

that people are saying today about commercial real estate.

So let's first go over to a very good article that just came out that's showing how the commercial real estate crisis is going into the next phase right because again these things take a long time to play out.

Just because we haven't had a blowup or something that has become systemic.

Let's put it that way.

Just because this hasn't become systemic yet doesn't mean it won't just like we saw during the

GFC now it doesn't mean that it will again no certainty is only probabilities

but we can't just bury our head in the sand and say, oh, well, the Fed fixed that. Why should we even worry about commercial real estate anymore? That's the wrong thing to do. So we're

going to get back to this article in a moment. The title here is America's

offices are about to see a wave of distress that could result in a billion square feet.

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