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What Will Cause The Next Market Crash?

Many Happy Returns

CHAPTER

The Fed's Worries About Commercial Real Estate

Commercial real estate is a $24 trillion market, much smaller than equities. It's still a very sizable proportion of US GDP if it goes wrong. The Fed warns that it's still expensive and has started to roll over. But the thing is, it's also really hard to value because these are not traded publicly.

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