The Impact of Higher Interest Rates and the Commercial Real Estate Bubble

In this chapter, they discuss the impact of higher interest rates on real estate and the significant increase in the stock market. They also mention the similarities between the current situation and the 2008 recession, pointing out the massive amount of debt in the consumer, corporate, and government sectors. The focus then shifts to the commercial real estate industry, highlighting the bubble and the closure of offices. They mention the number of companies defaulting on their office space mortgages and the conversion of offices into warehouses due to the rise in online shopping.