"Real estate investor predicts 'greatest' correction and shift towards renting in the US"

Real estate investor Grant Cardone warns that the US is entering the "greatest" correction in the industry, presenting a unique opportunity for individuals to acquire trophy real estate from institutions. Cardone blames the Federal Reserve for the current state of the housing market, citing high interest rates and unaffordability as major issues. He urges Fed Chairman Jerome Powell to step aside and let the market correct itself by lowering interest rates. Cardone predicts that the Fed's actions will result in more renters in the next two years than in the last 50, as mortgage applications hit all-time lows.