How will the Debt Ceiling Debate Effect Commercial Real Estate

With all the hullabaloo and politcal rangling over the issue of raising the United State's debt ceiling over the last few weeks, I have been contemplating how those in commercial real estate will be effected. On July 29th, Globe Street Reports that Goldman Sachs and Citigroup have pulled a 1.5 Billion CMBS offering this week., has partly answered my question.  Higher interest rates, less availability of money and perhaps a slow down of the recent uptick in the commercial sales that we have been seeing lately.  Over the next few posts, I will be setting out some of my thoughts and the thoughts of others on this issue.