No need. So much real estate investment was made by extending way beyond relatively minuscule net worth, based solely on ZIRP. For the longest time, income-ge

No need. So much real estate investment was made by extending way beyond relatively minuscule net worth, based solely on ZIRP. For the longest time, income-generating properties provided positive cash flow at returns lower than the current interest rate has risen to. Now all of these speculators are in trouble at the same time. And if small-business tenants were providing the cash flow, lots of them were barely viable, and only as long as expenses and interest rates on other loans did not rise at a faster rate than during the ZIRP period when things had been considered stable for quite some time.