Grant Cardone, a private equity fund manager and real estate investor, argues that the proposed tax increases, specifically on capital gains, will have detrimental effects on the housing market. He suggests that these tax hikes will inflate housing prices, making it harder for the middle class to purchase homes, ultimately destroying their financial stability.
Positive
The anticipated rise in housing prices due to Harris' tax proposals may lead to increased investment in real estate, particularly in REITs (Real Estate Investment Trusts) that can benefit from higher property values despite the tax implications.
Negative
Conversely, the proposed capital gains tax could negatively affect individual investors in the housing market, leading to reduced demand for residential properties. This might result in a downward price pressure in certain areas, especially where investment purchasing is prevalent.
Oct 11, 2024, 12:01 PM
The former president often implies that deportations will bring down housing costs. Reality is more complicated.
Oct 10, 2024, 1:34 PM
The Consumer Price Index (CPI), the main measure of inflation, increased 0.2% in September, a similar increase consumers saw in August and July, the Bureau of Labor Statistics reported.
Oct 10, 2024, 12:46 PM
Mortgage rates rose sharply this week in their biggest jump since April, bringing the average rate for a 30-year fixed note to 6.32% as demand fell for a second straight week.