People with a bearish sentiment will be right in the end. This bubble is going pop soon and it will wipe out many cocky permabulls.

Commercial mortgage delinquencies surged at record monthly rate in June

Delinquencies in commercial mortgage-backed securities jumped by 213 basis points in June to 3.59% from 1.46%.

It was the largest one-month spike since Fitch Ratings began tracking the metric nearly 16 years ago.

The hotel and retail sectors are seeing the worst delinquencies, as the coronavirus has been especially hard on those industries.