Real Estate accuses Powell for the US Housing Crisis

As the United States continues to face challenges with its housing market, one real estate shows a finger on the Fed chair Jerome Powell for a fall.

Grant Cardone, CEO of Cardone Capital, claimed that Jerome Powell, Chairman of the Federal Central Bank, « caused » the country’s « housing crisis » when he appeared in the morning with Mary « on Monday.

« He (Jerome Powell) has done more damage to the middle class and Living in this country Like any other single Fed or any decision ever made from Washington DC, « Cardone stressed.

A real estate expert criticizes the country’s high interest rates as the reason for « prevent » people from buying homes.

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« That’s why you have 500,000 more homes on the list than buyers of these homes. When prices fall, prices also fall with it, because there is more supply and the offer is what dominates prices, » he said.

The following Federal Open Market Committee’s The May meeting, the Central Bank announced that it would leave the benchmark unchanged to 4.5 %.

Cardone told Jackie Deangels of Fox Business that « interest rates do not control prices ».

He explained that lower prices could « stimulate » activity in the market and « activity is what makes the economy work ».

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« When you have a high supply, but no demand because prices are too high, you have no buyers coming to reach these homes (so) prices stay, » Cardone said.

Powel’s criticism of a real estate expert did not stop there. Cardone said that despite inflation dropThe Fed manager has kept interest rates.

« If you want homes to move in this country, we need investors back to the market and need buyers back in the market that can get a low interest rate. »

Cardone looked at the decline in inflation on President Donald Trump’s « enthusiasm, optimism and speculation about opening the market. »

President Donald Trump, Fed President Sound CriticHe also urged Powell to fully reduce interest rates.

«  » Too late « on the Fed has a disaster! » Trump wrote the truth in a social message. « There have been 10 interest cuts in Europe, we haven’t had anyone. Despite him, our country is going well. Go to full point, rocket fuel! »

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Fox Business’ Matthew Kazin and Eric Revell participated in this report