G
rant Cardone, CEO of Cardone Capital, believes President-elect Trump's return to the White House will lead to historic rate cuts by the Federal Reserve over the next year. Cardone was present at Trump's election night watch party and thinks Trump will quickly address the US housing crisis.
"We have a massive real estate problem in this country – he knows it," Cardone said of Trump. "The only thing that relieves this problem is him applying pressure on the Fed to reduce rates, and I believe he will do that." Cardone predicts rate reductions within 12 months, which would reinvigorate the stalled housing market and alleviate commercial real estate debt problems.
Cardone argues that mortgage rates must come down from their current near-7% level to 4% or lower. He believes Trump's return to office in January will prompt the Democratic Party to claim a recession is looming, but this will ultimately help Trump reduce rates and solve the housing crisis. Cardone thinks Trump is the only one who can address the problem and predicts his presidency will be great for real estate.
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