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In 2023, a significant crisis in commercial real estate is anticipated, reminiscent of the 2008 subprime mortgage crisis in residential real estate. This potential crisis revolves around commercial mortgage-backed securities, as banks have issued substantial loans to commercial landlords. The shift towards remote and flexible working, with many employees working only part-time in offices, has led to reduced demand for commercial real estate. Recent news highlights that a major commercial real estate landlord in the US has defaulted, signaling deeper issues in the market. The evolving landscape poses risks for banks and investors heavily involved in commercial properties.