The warning was aired by. As proof, the 20-year vet pointed to the history of the rising S&P's yield curve. It's been inverted for 500 days, something that has rarely occurred historicallyMillions of Americans will have their retirement and savings destroyed by a looming stock market plunge of some 50 percent, one economist has warned.
Taking to X, Cardone emphasized the compounded threat by prospective a 50 percent loss in retirement accounts and current rates of inflation, which could make the total loss feel more like 75 percent, he said. — Grant Cardone May 5, 2024 'WARNING: Stock Market is due for 50 percent correction taking S&P below 2674,' he wrote, sharing a graph showing the telling yield curve sported by the all-important index.
As proof, the 20-year vet pointed to the history of the also rising S&P's yield curve, which has been inverted for over 500 days He called it a 'great opportunity' for individuals and family buyers, as Manhattan rents dropped for the first time since the pandemic. Mortgages and inflation, meanwhile, remain sky-high
On Monday, Cardone shared another graph showing how he believes his previous forecast is still to come, and how rents have remained stagnant for the past few months after an alarming skyrocket following the the first year of the pandemic. 'Flat rents will stop new construction and Create MASSIVE supply problem & benefit real estate investors with 25-30% rent growth starting in 2026-28,' he said.
House prices remain high, but Grant hopes that if mortgages become more affordable, they will drop as more people sell their homes
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