that 35% – or $5.8 billion – of pooled securities commercial mortgages coming due between April and December 2023 will not be able to be refinanced.
Kevin O’Leary says commercial real estate has become"uneconomic" on"Varney & Co." Friday, September 29, 2023. "Unfortunately, what we have is many of them are on the balance sheets of regional banks, up to 40% of their balance sheets. These are going to come through, rolling through refinancings over the next 18 to 30 months," O’Leary explained. "We're going to see more cracks on regional banks, and that's putting pressure on the loan books of those banks which are hitting small business.
Regional banks are the biggest source of credit to the $20 trillion commercial real estate market, holding about 80% of the sector's outstanding debt. Regional banks were just at the epicenter of the upheaval within the financial sector after Silicon Valley Bank’s collapse, and there are concerns that the turmoil could make