Kinda. The housing crisis was caused by new schemes around high risk home loans. A lot of these commercial property loans were likely deemed very low risk, but then a global pandemic completely upended a century of commercial real estate precedent.

Go to any major metro area in the western world, and you’re probably going to find lots of vacant offices and commercial tenants thirsting for their lease to expire.

So a similar end result, but how we got here was likely a less about greed and negligence, and more about a radical shift in human behavior.