Commercial real estate is $4 trillion of outstanding debt. Okay. Single family is 13 trillion.Okay. So single family much bigger than commercial. And half of commercial is multi.So you have only $2 trillion of debt outstanding to office buildings, retail, all of that, hospitality, and you have two trillion out to uh to residential and and you operate mostly in multif family. A lot of it, right. And 50% of that two trillion is with Fanny and Freddy.The issue about housing is that people need somewhere to liv ...

Group 1 - The author has a background in private credit and commercial real estate (CRE) mezzanine financing, indicating expertise in financial analysis and investment strategies [1] - The author has collaborated with prominent CRE developers, suggesting a strong network and understanding of the real estate market dynamics [1] - The author is a fluent Mandarin speaker, which may provide advantages in understanding Asian markets and investment opportunities [1] Group 2 - The article does not provide specific investment recommendations or financial advice, emphasizing the author's personal opinions and research [2][3][4] - There is no indication of any current stock or derivative positions held by the author in the companies mentioned, which may suggest an unbiased perspective [2]