Scott Rechler, CEO of RXR Realty, warned of significant losses for banks and investors as many office buildings become obsolete. While top-tier Class A buildings will prosper, lower-tier buildings face potential obsolescence. The US office vacancy rate recently hit an all-time high of 13.1%. Goldman Sachs and other banks are buying distressed properties, anticipating a drop in prices. With $1.5 trillion of debt in the commercial real estate sector nearing maturity and banks reducing lending, experts predict a possible commercial real estate crash, with office prices potentially dropping by 35% in the coming decades.