BusinessInsider: Billionaire Barry Sternlicht predicts weekly bank closures as the real estate sector battles high interest rates and inflation
Billionaire Barry Sternlicht offered an ominous prediction about America's regional banks amid a coming commercial real estate reckoning.
The Starwood Capital Group CEO told CNBC on Tuesday that he thinks real estate's primary lenders — regional and community banks — could soon be bearing the brunt of high interest rates and inflation.
"You're going to see a regional bank fail every day, or not — every week, maybe two a week," Sternlicht said.
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