[eftychis]

Well the space is not limited anymore, as the commenters suggest. The natural progression is for rents to go lower.

The problem is that would mean that the valuation of the real estate would need to change, which would imply debt repayment, and given higher interest rates: default or finance under onerous terms or being cash rich already.

At the end (as the Fed expects): defaults => lower real estate value ^ rents => cheaper food options.

And that is where usually executive is going to come in to save Government Supported Real Estate (GSE), and throw a wrench to Feds approach.

tl;dr: the government supports this situation it will come to make it worse once again /s.