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Grant Cardone Forecasts Tenfold Returns As Homebuying-Renting Gap Hits 50-Year High [Yahoo! Finance]
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see a return on their investments in his company's real estate portfolio over the next 10 years. Cardone shared a graphic from Visual Capitalist illustrating how rising mortgage rates and home prices have impacted the housing market. In October 1981, during the peak of homebuying for the oldest baby boomers, the 30-year fixed-rate mortgage hit a record high of 18.63%. At that time, the monthly cost to purchase a home was $875 per month and renting cost was $365 per month, according to the Visual Capitalist chart. 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 To Grow Your Wealth Passively? Unlock Real Wealth with Cityfunds' Exclusive 8% Yield Fund During the 2006 housing bubble, those numbers spiked, with rental costs nearly tripling to $1,056 per month. The monthly cost to buy rose to $1,518 but was far from the percentage increase renter
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