Harris' tax proposals will inflate housing prices, destroy middle class: Grant Cardone
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.
Stock Forecasts
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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.
XHB
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.
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