Housing Market Crash Predicted: Is America Becoming a Nation of Renters?

America's Housing Market Correction: A Renter's Market on the Horizon? The US housing market is experiencing a significant correction, according to financial expert Grant Cardone. Cardone, who recently purchased $600 million in Florida real estate, believes high-interest rates are the primary driver. This is leading to a situation where "70% of all single-family homes are under 4% interest," making them difficult to refinance and sell. Cardone predicts this will lead to a large-scale shift towards a renter's market. "The prices will not come down until interest rates drop," Cardone stated. He further suggests that building affordable housing is currently "impossible." His analysis points to a future where homeownership becomes less accessible, particularly in areas like Houston, Texas, which he says is "in a correction." Cardone's investment strategy is to capitalize on this correction by purchasing properties in states like Florida and the South, where he sees greater stability. While his predictions are bold, they underscore the challenges facing the housing market and the potential for significant change in the coming years.