I think WFH (no RTO) and high interest rates will spark a recession. That was the whole idea of the Fed hiking rates and tightening 'QT' to reduce inflation. It

I think WFH (no RTO) and high interest rates will spark a recession. That was the whole idea of the Fed hiking rates and tightening 'QT' to reduce inflation. It's not an accident, a recession was always the goal. However, we all know, if there is any whiff of a real crisis, The Fed will bailout: most regional banks (more likely forced acquisition by TBTF Wall St. Friends of the Fed ); some large CRE developers; and leveraged 'insider' REIT funds like Blackrock (not WeWork). Most (>50% by loan value) Americans already have .gov as their residential landlord through Fannie & Freddie. Soon most of their mostly-empty office space will also have a .gov landlord.