It is possible commercial real estate could negatively impact the banking sector and the financial markets, but that's not really the most likely scenario.

"At this point, we're not seeing that level of risk," according to John Chang, Senior Vice President and National Director of Research and Advisory Service, Marcus & Millichap.

Speaking this week on his firm's analyst video, Chang said, "And in all honesty, we're already, hopefully, on the backside of the risk cycle."

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