Edd Hamzanlui The recent passage of the new federal budget bill has put the issue of America’s growing national debt back in the headlines. As of mid-2025, the U.S. national debt stands at approximately $36.5 trillion (about 130 percent of GDP), and debt service costs have now surpassed defense spending. This is not a political analysis, nor is it investment advice. Rather, this column examines how a sustained rise in national debt could affect the U.S. real estate sector (both residential and commercial) if the debt-to-GDP ratio continues to climb....