Real Estate Investor Explains Why Kamala Harris Is ‘Who Doesn’t Understand Real Estate’
Cardone Capital CEO Grant Cardone discusses the economic plans of the presidential candidates, the corporate tax rate, Google flagging his company’s campaign and Harris’ plans to buy new homes.
One of America’s most talked-about real estate investors aims to set the record straight on what the real estate industry might look like under the Harris-Walz administration in the future.
“Kamala Harris is not financially literate, she can’t, or she believes her voters are. Her plans come out every week as something new,” real estate investor, private fund manager and 10X founder Grant Cardone said on “Mornings with Maria,” Wednesday.
“Kamala doesn’t understand the place to live,” he continued, “and I can tell you why.
Vice President Kamala Harris has released a list of measures she will take to address the affordable housing crisis in the US if she wins the presidency, including expanding President Biden’s proposal earlier this year to provide $25,000 in assistance for the first time. domestic buyers.
FED DECISION OPENS REAL ESTATE FLOOD AFTER FOUR YEARS
While Biden’s plan from May asked Congress to give $25,000 to about 400,000 first-generation homebuyers, Harris wants to give an average of $25,000 to all first-time homebuyers in the country, which the Democratic presidential nominee says will be given more than that. four million people in four years if he takes the Oval Office.
Grant Cardone says Kamala Harris’ housing plan will actually increase US home prices. (Getty Images)
Harris’ affordable housing plans include proposals to build 3 million new homes over the next four years. His campaign wrote in an August statement that the housing shortage in America has caused high prices, and that the plan makes rent and mortgages “cheaper.”
“He wants to build 3 million new homes, he says he can do it in his first term. They didn’t build them last year. And we are 4.2 million homes short in America,” said Cardone.
Private equity fund manager and real estate investor Grant Cardone explains how raising capital gains taxes will affect the housing market in ‘Varney & Co.’
“So why do you want to build 3 million when we are short of 4 million? Who are these people who can’t get a house?” he continued to say. “Who gets $25,000? A $25,000 loan for first-time buyers will increase housing. It won’t decrease housing, because it will just add $25,000 or $50,000 or $75,000 to the value of the house.”
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The 30-year fixed mortgage rate fell for the eighth consecutive week ending September 20. On Wednesday, the 30-year rate fell to 5.99%. Cardone revealed another key housing to get prices at 4%.
Fox News real estate contributor Katrina Campins discusses the impact of the Federal Reserve’s interest rate cuts on the housing market on ‘The Big Money Show.’
“If you live long enough to understand, go back to 1980, we had half the sales than we had then, and the interest rate was twice what it is today,” the investor said.
“Interest rates have to reach 4% or less for prices to fall in America. This is a counterintuitive view,” he added, “but the reality is, as long as rates hang at 6.5 [percent]70% of all mortgages in this country are less than 4%. If I’m a buyer, I’m definitely waiting. I might include the deal in the contract, but with an option to buy in the future.”
READ MORE ON FOX BUSINESS
Breck Dumas of FOX Business contributed to this report.
Source link
