The problem is not just commercial real estate but adjustible mortgages, creditcard debt, auto loans, students loans and more are all at risk of defaulting at one point or another. This is because of the one two punch of higher interest rate and higher inflation. That is wrecking the economy. Businesses and people are being squeezed out more every day.
And the FED's actions of raising rates while at the same time flooding the system with liquidity is the worst you can do. As long as interest rate doesn't go back to zero the financial system will continue to bleed money. While inflation will persist because of money printing.
