In the last 14 days, Silicon Valley Bank and Signature Banks crashed, Credit Suisse was saved by Swiss National Bank, Federal Reserve and Bank of England raised interest rates, Deutsche Bank and UBS Bank stocks plummeted. and there is fear of another global financial crisis. [03.24.23]
The short answer is that SVB did not have enough cash to pay depositors so the regulators closed the bank. The longer answer begins during in the pandemic, when SVB and many other banks were raking in more deposits than they could lend out to borrowers. In 2021, deposits at SVB doubled.
Homes that are inherited are typically those that are passed down from one generation to the next. Inherited homes can be excellent opportunities, but they can also be a problem. Some inherited homes need upgrades and care.
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