The Overhang of Commercial Real Estate

Commercial real estate is like the European banks that's going to fester for a decade and the Fed are going to have to put it on the balance sheet in one way, shape, or form. There's an overhang of bad banks because I just think non-capitalist banks. And then I had this thought that this concept of store of value is shifting because many people invest in real estate as store of value - 100 trillion? It's certainly trillions.