Kevin O’Leary says a coming real estate collapse will lead to ‘chaos’ and banks “are going to fail because up to 40% of their portfolio is in commercial real estate.”

“Most of these buildings have mortgages with interest rates of less than 4%,” he said. “Now the Fed has raised rates to 5.5% terminal rate, which means these mortgages are going to be refinanced at 9% to 11%."

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— unusual_whales (@unusual_whales) September 27, 2023

US housing affordability is worse today than the peak of the last housing bubble. The median American household would need to spend 43.8% of their income to afford the median priced home, a record high. pic.twitter.com/Y4FQi0Lr7Z

— Charlie Bilello (@charliebilello) September 27, 2023