Grant Cardone Exposes Housing Cost Surge Under Biden — 'Mortgages Have Doubled To The Highest Level In History & Double The Cost To Rent' [Yahoo! Finance]
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Source: Yahoo! Finance
"Under Joe Biden's administration, mortgages have doubled to the highest level in history & double the cost to rent," Cardone posted. "April 2020: $1,480. April 2024: $2,890 (record high). Will you buy a house this year?" This and prior posts from Cardone reflect his significant concern over the affordability of buying a house in the current economic climate. Mortgage rates have risen dramatically, with the average 30-year fixed-rate loan recently reaching 7.39%, according to Bankrate. The increase is part of a broader strategy by the Federal Reserve to combat inflation by keeping interest rates elevated, which makes borrowing more expensive for businesses and consumers. This policy aims to temper demand for goods and services, potentially slowing the pace of price increases across the economy. Don't Miss: Investing in real estate just got a whole lot simpler. This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, and you only need $100. Want
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