Paul J Davies. : THE sense of impending doom in commercial property is almost inescapable in the US and Europe, but evidence of actual disaster is scant. Real estate experts and investors who specialise in distressed assets think it’s only a matter of time before landlords and lenders must face reality and yet finance officials like US Treasury Secretary Janet Yellen say problems are manageable. The truth is that the losses to come over the next few years will likely be as varied and specific as the experiences of different banks so far seem to be.