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When interest rates come down, so will prices.
Cardone acknowledged that currently interest rates are somewhere between 7% and 7.5%.
So what does this mean if you do not own property and are renting?
Maybe not the best news.
So lots of people are trapped in a house right now.
In Cardones words, The housing market is dependent upon, not upon new buyers, first-time buyers.
Existing buyers that are trading up.
There will be tremendous amounts of pressure in apartments.
This is thebest, most biggest, massive opportunityin my sixty-six years on this planet.
This is thebiggest real estate correctionin my lifetime, Cardone stated.
Cardone expressed how ifmortgage ratesdo not drop, rents have to go up.
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