Commercial Mortgage-Backed Securities = what caused the 2008 great recession

https://youtu.be/1Rhs3PVAP4o?si=9fXJe5hHfBvBtFD6

Simplify, people no paying in time their debt, and or repaying by accumulating more somewhere else, like you create a second credit card to pay the interest on the first one.

More color from brave ai:

The overall U.S. CMBS delinquency rate decreased to 7.23% in September 2025, a drop of six basis points from the previous month, marking a pullback after six consecutive monthly increases. This rate remains significantly higher than the 5.44% recorded one year ago. The delinquency rate for office-backed CMBS reached a record high of 11.7% in August 2025, surpassing the peak of the 2008 Financial Crisis and reflecting deep structural challenges in the sector. Meanwhile, the multifamily CMBS delinquency rate also surged, reaching 6.9% in August, the worst level since December 2015, driven by high interest rates, elevated insurance costs, and a significant oversupply of new units.