share this pain so we ALL can come out ok and so that the public sentiment of LLs does not erode further. 

I agree with most of the general sentiment I'm seeing on here.

Contrary to some of the sentiment you've heard here so far, I would say that commercial multifamily (5+) is quite a different beast than residential/SFH.

I find your sentiment offensive somewhat.

Sentiments.

For things to get back to normal: - everyone in the world (not just the US) will need to see their earning capacity completely restored - consumer balance sheets will need built up again -all of the lost productivity in the manufacturing sector will need to be restored-consumers sentiment will need to return to all time highs-governments (federal, state and local) will need to come to terms with trillions of new debt and massive budget short falls. this will be a big issue for states and localities that are already flirting with default (see Illinois)-pension funds will need replenished-corporations will need to deal with serious damage to balance sheets and return to net spending on R&D and capital outlays (the energy sector might be the biggest issue here). corporate debt was already at or near all time highs for several sectors prior to the crisis- Both national and local economies will need to see a return of animal spirits to the pre-crisis highs from both local business owner and in the tech industry.

@Dave Meyer - has BP Insights considered doing a sentiment analysis on forum posts?

Clearly you had some good foresight a year ago.In general, I agree with your sentiment that things will get worse, but I do disagree on general timelines.First, I cannot tell if you mean recession from a traditional standpoint (2 consecutive quarters of GDP decline), the current National Bureau of Economic Research (NBER) definition (a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales) or a general "emotional" descriptor. 

Regardless of their own and their buyers sentimental reasons,  People were still getting the same joy out of reading them.I'm sure someone is about to say why that's different, but my point is that regardless of our own long history of buying and selling Real Estate, we are selling an inanimate object.  

I assume a lot of the sentiment that CMBS debt might fail is already priced in to those CEBOs?