These States Are Dying While These Cities Are About to Boom | Grant Cardone
Oct 6, 2024
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In this engaging conversation, Grant Cardone, a real estate mogul and founder of Cardone Capital, shares his insights on the shifting investment landscape as people move from high-tax blue states like New York and California to business-friendly red states like Florida. He discusses the impact of political decisions on the housing market and warns against high interest rates affecting homeownership. Cardone also critiques current housing policies and advocates for alternative rental solutions, all while balancing economic realities with personal finance strategies.
Grant Cardone emphasizes the shift of businesses from blue states like New York and California to more favorable red states, highlighting significant investing opportunities.
The discussion reveals that political decisions directly impact real estate, illustrated by Cardone’s withdrawal from New York deals post-Trump’s judgment, showcasing changing political allegiances.
Cardone critiques government housing policies and taxation systems, arguing that they hinder wealth accumulation and exacerbate the housing crisis, especially affecting middle-class entrepreneurs.
Deep dives
The Importance of Cost-Effective Wireless Services
The discussion begins with Ryan Reynolds humorously reflecting on his ongoing involvement with Mint Mobile, emphasizing the brand's commitment to providing unlimited premium wireless for just $15 a month. He questions why so many consumers continue to pay much higher rates for their phone services, subtly pointing out the value proposition offered by Mint. The recurring theme is that this affordable option breaks the norm in a saturated market, challenging the established telecom giants. This perspective on cost serves as a backdrop for the broader conversation about financial choices and consumer awareness.
Observations on Freedom in the UAE versus the US
Grant Cardone shares his recent experiences in Dubai, highlighting a stark contrast to common perceptions regarding freedom in the UAE. He argues that, contrary to narratives propagated by Western media outlets, many freedoms exist in the UAE that the US is beginning to lose. His excitement about returning to the US and discussing the differences in governance reflects a broader critique of both media narratives and political responses in the face of shifting freedoms. This contrast sets the stage for a conversation on personal freedoms, governance, and the implications for success in business.
Shifting Political Interests Among Business Leaders
Cardone discusses a notable trend among business leaders, particularly tech and VC professionals, who have become increasingly politically active due to their financial interests being threatened. He recounts his own decision to pull out of significant New York real estate deals after a judgment against Trump, illustrating how politics can directly impact business decisions. This growing awareness indicates a shift in political alliances as individuals begin to recognize the implications of political choices on their financial well-being. The conversation highlights a broader trend of political beliefs evolving in response to personal economic realities.
Real Estate Market Dynamics and Economic Trends
The conversation offers insights into current trends in the real estate market, particularly focusing on why some urban markets remain expensive despite an exodus of residents. Cardone points out that high demand combined with restrictions on new developments creates a unique market dynamic in cities like New York and Los Angeles. He critiques government proposals meant to alleviate housing shortages, arguing they could backfire by inflating prices further. This analysis underscores the complexities of the housing market and the need for nuanced understanding amidst purported solutions.
The Impact of Taxes on Wealth Building
The discussion delves into the role of taxes in wealth accumulation, with Cardone arguing against the current tax systems that he believes hinder growth and opportunity. He presents the idea that wealth education is essential, emphasizing that understanding and navigating tax codes can significantly impact financial strategies. He also critiques proposals like the unrealized gains tax, asserting that such measures would stifle economic activity. This perspective frames the overall discussion around how tax policies disproportionately affect aspiring entrepreneurs and the middle class.
Dave Rubin of “The Rubin Report” talks to Grant Cardone about which states are dying and which cities and states are the best investing opportunities; his thoughts on political decisions that hurt his finances; the reason why he pulled out of New York City real estate deals after Trump’s judgment; why there is no future for blue states like New York and California since businesses are flocking to red states, the business shift to Florida and how states like California are pushing people away; why New York and California might recover when enough people are fed up; how Kamala Harris’ housing policies may crash the housing market; how Cardone navigates business challenges in real estate markets; trolling Mark Cuban on Twitter over political and economic views; how Cuban’s stance on DEI and economic policies contradicts his capitalist image; Cardone’s belief that Cuban’s criticisms of Trump stem from personal resentment; how interest rates and inflation have worsened since Trump’s presidency; Cardone’s advice on not buying homes until interest rates drop below 4%; and how the U.S. banking system may be headed toward consolidation with the failure of smaller banks; how high interest rates prevent many Americans from owning homes; how the government doesn't understand the housing crisis, claiming there's no such thing as “affordable housing”; Cardone’s suggestion to incentivize apartment owners to rent vacant units; Kamala Harris' incorrect focus on grocery store prices and possible price controls rather than credit card monopolies; how financial indoctrination, not literacy, is the real problem holding Americans back from creating wealth; and much more.