The Impact of the Fed-Tiking Cycle on Commercial Real Estate

I hear a lot of folks, analysts in the market also talking about bright spots in the commercial real estate areas such as storage and warehousing etc. So perhaps that could be also a contributing factor softening the impact a little bit. Commercial real estate if you at least look at the broadest index office only makes up 15% of the total. You're right that there are some bright spots in particular in industries and warehousing. We are seeing a manufacturing boom in the US economy which is where an arrow is pointing in the opposite direction.