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%." Read more: …