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The SVB Crisis
In the 1980s, CRE was one of the asset classes that SNLs were investing into to save themselves from interest rates had gone up and they were losing deposits. So we're at a different point in time right now relative to where we were there because, you know, these what's called the regional banks SNLs for the analogy. They're losing deposits now before the recession happens. Once the recession happens, especially because CRE is not going to be able to help them the way that it did in the 1980s. It's hard to say how quickly any of this will occur. We can only talk to what are the vulnerabilities.