Real estate investor Grant Cardone has made a bold claim about the current state of the industry, saying that it is entering the greatest correction he has ever seen. Speaking to “FOX & Friends,” Cardone spoke about the potential opportunities this correction could provide for everyday investors.
“I just want to say that we’re entering the greatest real estate correction in my lifetime,” private equity fund manager Grant Cardone told “FOX & Friends” on Thursday while discussing the state of the industry, the New York Post reported.
“It’s [real estate correction] going to be a great opportunity for individuals, regular, everyday people to actually grab trophy real estate from institutions. This has never happened in the country,” Cardone said. “It’s going to be at epic levels.”
Cardone believes that a significant real estate correction is looming, and regular people could take advantage of the situation by buying properties from institutions. He stated that this has never been seen before in the United States. However, despite Cardone’s prediction, the current housing market continues to pose significant challenges for buyers and sellers alike.
Although Cardone’s claim may seem alarmist, there are signs that the industry is experiencing some upheaval. Interest rates remain at heightened levels, which is making it challenging for many buyers to purchase a property. Additionally, the cost of housing continues to rise, putting a strain on many people’s finances.
Despite these challenges, some industry experts believe that Cardone’s prediction may not come to fruition, at least not to the extent he anticipates. They argue that although there may be a correction, it may not be as significant as Cardone suggests. Nonetheless, investors should be mindful of the potential risks and opportunities that this situation presents.
