The commercial real estate bubble in America is about to pop, with banks holding $3 Trillion in commercial real estate debt that's about to go bust.
That's because empty office buildings in downtown areas to go along with struggling retail centers are leading to an increase in defaults on this debt.
As the defaults continue increase in 2023, we will likely see banks become more cautious in their lending and cut back on credit.
Which risks plunging the economy into an economic crisis.
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https://trendinginrealestate.com/home-remodeling-trends/ray-dalio-us-at-beginning-of-late-bigcycle-debt-crisis