GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you’ve got the option to read more about oureditorial guidelinesand our products and servicesreview methodology.
20 YearsHelping You Live Richer
Reviewedby Experts
Trusted byMillions of Readers
Many people dream of becoming homeowners.
Buying a house establishes your place in a community and can provide more stability than arental property.
Landlords can gradually raise rent, and none of those monthly payments build your home equity.
It may not seem encouraging to young adults who feel like high housing prices are blocking them from homeownership.
That means people who embark on homeownership have to contend with higher costs.
While Cardone has bought many properties, he made most of those acquisitions back when interest rates were lower.
Cardone explains that insurance can now be a dealbreaker.
For instance, many insurers stopped offering flood insurance in Florida or started to charge much higher premiums.
The same scenario has played out with wildfire insurance in different parts of California.
Cardone went through some quick math to demonstrate the impact of insurance.
Cardone mentions that insurance now costs about $2,000 per month.
Insurance premiums elevate the cost of homeownership and make it more difficult for owners.
However, Cardone claims that these costs havent yet been realized in the renting market.
Real estate investors who have owned properties for a long time have a big advantage in this atmosphere.
The Federal Reserve can lower interest rates and immediately make it more affordable to borrow money.
The Department of Government Efficiency can also bring down inflation by getting rid of wasteful government spending.
Trumps initiative to free up more lumber can increase production and make it more affordable to create homes.
Renting gives you the flexibility to move quickly and capitalize on a great deal.
However, most people are pretty much stuck after buying a home for better or for worse.
More From GOBankingRates
Share This Article:
