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Developer Warns Real Estate Could Be Next Crisis for Big Banks

Royal Palm Companies CEO Dan Kodsi joined ‘Cavuto: Coast to Coast’ to discuss the Silicon Valley Bank collapse and its economic impact on the real estate market.  Real estate could be the next economic crisis for big banks. SILICON VALLEY BANK COMMITTED ‘ONE OF THE MOST ELEMENTARY ERRORS IN BANKING,’ LARRY SUMMERS SAYSDuring an appearance on “Cavuto: Coast to Coast,” Thursday, Royal Palm Companies CEO Dan Kodsi warned Americans that the Silicon Valley Bank collapse has contributed to the growing vulnerability of the real estate market – placing yet another economic burden onto consumers.  The closure of Silicon Valley Bank (SVB) was announced by the Federal Deposit Insurance Corporation (FDIC) on Friday, marking the worst U.S. financial institution failure in nearly 15 years.  (Reuters/Nathan Frandino / Reuters Photos)“People, in general, are worried. As we were talking about the regional banks, that’s a major issue,” the real estate developer said to host Neil Cavuto. “We’re developers. And so, a lot of our construction financing comes from regional banks. And so, the impact of the fallout here of something like this happening with the regional banks is definitely a large concern.” “There’s definitely going to be an im …

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