commercial real estate is already in BIG trouble. They will be trying to make those office buildings into more apartments. But, we have passed the peak of population, and are in decline. So, that real estate is on its way down.

I am unsure what will happens with industrial. We need more small industrial And the reshoring to The US will want more huge warehouses. So, it will not be profitable to turn them into housing, but may be profitable to build more small industrial.