Grant Cardone discusses Trump's impact on US housing market in NYC
- Grant Cardone discussed the challenges in the U.S. housing market, including high rents and mortgage interest rates, during an appearance on 'Varney & Co.'
- He suggested that Trump could pressure the Federal Reserve to lower interest rates, as many homebuyers are unable to qualify for a mortgage.
- Cardone's proposal reflects the ongoing debate about government involvement in financial markets, underscoring the need for solutions to improve housing sales.
In the United States, real estate investor Grant Cardone spoke on 'Varney & Co.' about how former President Donald Trump could influence the struggling housing market. Cardone highlighted the challenges many face in both buying and selling homes due to current economic conditions, particularly high rents and interest rates, describing the situation as 'insanity.' He asserted that Trump could apply pressure on the Federal Reserve to lower interest rates, which are currently at historic lows. Furthermore, with around 2 million homes for sale, the inability of many to qualify for mortgages has exacerbated the market downturn, with home sales plummeting according to National Association of Realtors data. Cardone's remarks were met with skepticism from David Bahnsen, who argued against politicizing monetary policy, emphasizing that the markets should determine interest rates independently. This exchange highlights the broader debate on the role of government intervention in the economy, particularly in real estate, amidst calls for solutions to a stagnant housing market.