The subprime crisis in 2007 was triggered by unsustainable costs of driving long distances to work, leading to the collapse of the housing market. Despite Ben Bernanke claiming in 2007 that the subprime crisis was contained, the fallout continued with the quant quake in August 2007. The belief that commercial real estate (CRE) is contained echoes the confidence during the subprime crisis. However, there are uncertainties as refinancings and transactions are yet to be observed, raising concerns about the potential risks in the commercial real estate sector.