Real estate investor Grant Cardone sees 50-year mortgages as a major opportunity following Trump’s hint. Lower interest rates and monthly payments make them attractive. The 30-year mortgage led to soaring housing prices, and the 50-year model could exacerbate this trend, benefiting investors and banks. Some criticize the idea as debt servitude.
The 50-year mortgage term could bring in more buyers due to lower monthly payments, potentially raising property prices. Real estate investors stand to benefit as asset prices rise, with housing and rent prices outpacing wage growth. However, critics see longer mortgage terms as a burden on future generations. 1. A new study shows that more than 3 million people in the U.S. have applied for unemployment benefits last week, marking a significant increase from the previous week. This surge in jobless claims is indicative of the economic impact of the ongoing coronavirus pandemic.
2. The World Health Organization has declared the coronavirus outbreak a global pandemic, with over 118,000 confirmed cases and 4,291 deaths worldwide. The organization is urging countries to take aggressive measures to contain the virus and protect vulnerable populations.
3. In response to the pandemic, several major sports leagues, including the NBA, NHL, and MLB, have suspended their seasons indefinitely. This decision comes after a player in the NBA tested positive for the virus, prompting concerns about the safety of athletes and fans.
4. As the number of coronavirus cases continues to rise, schools across the country are closing their doors to prevent the spread of the virus. This has left many parents scrambling to find childcare and educators working to transition to online learning platforms.
5. The stock market has experienced significant losses in recent weeks, with the Dow Jones Industrial Average plunging over 2,300 points in one day. Investors are growing increasingly anxious about the economic impact of the pandemic and its long-term effects on global markets.
Read more at Yahoo Finance: Grant Cardone Touts 50-Year Mortgages As A ‘Major Real Estate Opportunity’