Commercial Real Estate Collapse 2026: $1.5 Trillion in Debt, 22% Vacancy, and Your Pension Is Holding the Bag

The commercial real estate collapse of 2026 is structural, not cyclical. Office vacancy hit 22.4 percent, $1.5 trillion in CMBS matures at rates 3x the original issuance, and your pension fund is holding 8-12 percent in assets losing value every quarter. Here is the full breakdown.