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In 2023, a significant commercial real estate crisis is anticipated, reminiscent of the 2008 subprime mortgage crisis for residential properties. Analysts warn of a looming commercial mortgage-backed security crisis due to billions in loans made by banks to commercial landlords as demand for commercial real estate declines. The shift to remote and flexible work options has reduced the need for office spaces, as many employees now work from home part-time. The situation is exacerbated by recent news of a major U.S. commercial real estate landlord defaulting on its obligations, indicating a troubling trend in the industry.