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Luckily for banks, the commercial real estate time bomb just keeps on ticking. Industry observers have issued dire warnings for more than a year, suggesting that lenders are on a collision course with potentially billions of dollars worth of commercial real estate losses. 

But for all the gloomy talk, the fallout has remained relatively well contained.

Banks have already recognized about $50 billion in losses, or about 60% of the estimated cumulative losses, according to real estate research firm Foresight Analytics. Read more.