Grant Cardone and then other realtors react to Kamala Harris’s housing plan. A lot of people don’t like Grant Cardone because he’s a syndicator. That has no bearing whatsoever on what it is that I think about his opinion. He’s often right on a regular basis and I want to get both his and the real estate market people’s opinion of what they think about Kamala Harris’s plan when it comes to housing. Let’s deep dive into it y’all. Vice President Kamala Harris proposing up to $25,000 in down payment support for first-time homebuyers but President Trump says policies like this will destroy our country.

What they’re doing is a communist takeover of our country. Her plan is very dangerous because it may sound good politically and that’s the problem and we have to be very careful because when somebody gets up and says we’re gonna give you everything 25,000 for a house we’re gonna give you all sorts of little goodies free health care we’re gonna give you everything this is communist this is Marxist this is fascist and Kamala Harris also makes no mention of the crippling interest rates how high they are the current average rate on a 30-year fixed mortgage is nearly 6.5% that is when they took office in January it was 2.7% a lot of people won’t even sell their houses because they had such good interest rates in August of to the 16th of August just three days ago it was six and a half percent that’s a raise of a hundred and thirty three percent in interest rates alone let’s get it let’s get it up 133% since the Biden-Harris administration took over CEO of Cardone Ventures Grant Cardone joins us now good morning Grant and good morning to you morning how will we afford this 25,000 if you’re a first time homeowner we’re gonna pay for all illegals that come across our border their health care we’re gonna make everyone pay into this into a single system health care how will we afford this plus they’re paying for college tuition yeah Angel.

Look Kamala Harris is either financially illiterate or she believes her audience is all right so before we get in the grant guard owns assessment and analysis and I’m going to give you my opinion on it which one do you think it is do you think that Kamala Harris is financially illiterate or do you think that she thinks that her audience is financially illiterate again let me say this for the people in the back do you think that Kamala Harris is financially illiterate or do you think that she believes that she’s that are that the audience is financially illiterate and that’s why she’s proposing these policies these economic policies this is called come on marketing the $25,000 credit is a come on it will not happen the $6,000 child credit requires you to have two kids in the same year that’s a come on the four million homes that she came out with yesterday in four in four years is absolutely impossible in this country and to control prices is a come on this is a marketing strategy a gimmick where there’s a promise of an offer that cannot be delivered at scale it’s a typically used as a bait and switch some kind of offer that exaggerates that has hidden costs exaggerated claims and she is.

Kamala Harris is the come on Queen now that should be her new title what is it what’s required for a first-time homeowner I know you told our producers earlier that it takes a lot more than $25,000 yeah look $25,000 credits are already being delivered by builders by the way so you mean that the that the builders the actual people that is participating in the real estate market are already incentivizing homeowners by giving them $25,000 in credits which if anybody is familiar or if anybody has had conversations with people as far as what creative financing is then you know that a lot of these builders are looking forward to and is trying to move this inventory and one of the things that they’re doing in this economy and which we have six and a half to seven percent interest rates is they are giving you credits or they’re giving you $25,000 towards the purchase of a new home or more depending on where you bind to that depending on what the regulations is in your particular state,

So this is not something that she’s proposing that the government should even get involved in in the first place the market is going to dictate what it is that you do when the only thing that we have to do is to make sure that people are not overly participating in fraud that would lead to another economic crisis in 2008 and so he’s absolutely right so the government doesn’t need to do this the builder is willing to do it today but if even if you could do that the average loan today is 400 over $400,000 the average cost of a home is 440 so even if you gave a credit the first time home buyer does not have the down payment $32,000 on average this year is the down payment much less the ability to maintain the house to take care of the insurance which could be as high as $1,000 a month the HOA fees and the property taxes so while she says she’ll give 25,000 away it’s like the car dealer that says look the payments are gonna be $90 a month and no money down but you get there and you leave with a five or six hundred dollar payment it’s impossible to deliver like the American Rescue Plan and the inflation reduction act that delivered nothing to this country it was 3.2 trillion dollars that could have built 8 million homes or it could have provided 48 million black households with $300,000 in cash but that didn’t happen either so you saying that the money would have been better spent just throwing it out the window and giving it to the people that’s how bad this legislation is and this is why we don’t want the government participating in the housing market especially giving this money away which I’m almost inclined to think that this money would more or less go to migrants honest to God.

In my opinion I believe that the goal is to ultimately justify the amount of money that’s going over because they’ve already spent billions and billions of dollars on his migrant crisis in individual cities and collectively it’s out of control if you really look at the cost of what it takes or what we’ve spent as taxpayers what we’ve spent not the government what we’ve spent as taxpayers supporting his migrant crisis is crazy and I think that this is another play into it let me switch switch gears really quickly because Grant Cardone I 100% agree with everything that he said I want to go into actual realtors and this is a realtor that was basically breaking down exactly how this plan would affect the American people and ultimately whether it’s good or not let’s see what she got to say the Kamala Harris 10 Waltz campaign is unveiling a housing plan today as a housing expert someone who’s been in the business for 24 years owns my own firm and has been heavily involved in policy issues at all levels of government I felt obligated to bring y’all some viewpoint on what’s going to be rolled out especially since I seriously doubt that the National Association of Realtors is going to make commentary on a presidential campaign’s policy let me say something really quickly before we get into this it’s something about older snow hairs oh listen let me listen let me back up for a minute let me back up it’s something about those older slim snow hairs you know when they above 50 they just do it they just do it I like all women I like them young you know the ones that was on the New York.

But the need the younger New York TV anchors the news anchors they gorgeous I like the older snow hairs I like the dark chocolate women women are so beautiful as a species they are they are so beautiful as a species God knew to make sure that he don’t y’all love this show don’t y’all love the realistic nature of this show Molly is cracking up talking about Anton though yes no Harris the above 50 snow hairs are still slim trim and be having them teacher glasses and they do like this all the time them older snow hair the younger snow hair you can keep the younger ones the older ones wild girls wild girls anyways let’s get over to what she has to say from a real service because that’s what we wouldn’t talk about Realtors is going to make commentary on a presidential campaign’s policy the first item you’re going to see talked about is a wonderful plan to call for the construction of 3 million new housing units now that does sound good and I agree that it’s good to have conversation about the fact that our supply is the problem not so much demand however couched in that wonderful little headline is a real problem friends because their goal is to have the federal government take over zoning zoning should only be under local control Cabarrus County North Carolina where I am is wildly different than Mecklenburg County right next door and frankly we don’t have the foggiest idea what’s best for Syracuse New York or Kansas City Missouri or even.

Kansas City Kansas there is no universal housing market there is no universal housing plan if the federal government gets to take over zoning friends here’s what that looks like that means that you may have a parcel of land that you would like to develop and the federal government says yes or no as to what you can do I don’t like giving the federal government any control when this country was built to make sure that every zip code could have its own personality and its own leadership let me stop right there because again I don’t want the government participating in building houses we need smaller government with less regulation and making sure that we can qualify and as long as they manage things on their end the way that they’re supposed to the rest of it will take care of itself and I do think that there needs to be a little bit of oversight then at the same time.

I don’t want the government involved in building homes because then we’re gonna have zoning issues and we’re gonna have qualification issues and we’re gonna have issues determining who and who can’t get it it’s a mess it’s absolutely a mess I do not want the government telling me what I can and can’t do when it comes to my investment and real estate and then also more importantly because one of the things that they also said was and I had you know looked at this a little bit more extensively was controlling the cost and putting caps on what you can charge as a landlord in a rent controlled environment and I don’t like that either because then that means that you can’t also control my costs you can’t control the cost that’s associated with you can’t control the cost that’s associated with the property taxes or the insurance.

right you can’t control the cost of what it takes in order for me to even build that property in the first place and so how can you put a cap on what I can charge because you don’t know what my true costs are when the government starts to get involved in housing it’s an issue every single time when the government starts to get involved in what we can do and what we can’t do from a financial perspective it’s an issue I can’t take it I don’t like it it’s just bad all the way all the way across the board so yes we need new housing but not at the expense of local controls the second thing being proposed is of course rent control and that sounds good if you’re in a rental and you feel like you’re paying too much friends the way that you solve the high cost of rent is to add more rental units but not rental units by hedge funds which has been the plan for the last few years what we need are more mom-and-pop investors that are able to make local decisions about zoning and local decisions about their land so they can provide more units when you put in rent controls that caps what I as a landlord can charge for rent that sounds okay if you’re of the consumer but friends it’s been tried in all kinds of markets and all kinds of cities and it does not work because as an investor I’m not going to put my money into something where I can’t control the market conditions I mean I can never control market conditions but I can’t respond to market conditions pay attention every city that has rent controls loses rental units what happens when you lose units that’s right you have another supply issue this is not good it is terrible and by the way if you’re a tenant you can get trapped in your unit because let’s because nobody wants to be in a market where they’re then controlled by rent or whatever the controls are by the federal government or the local municipality because why would I participate in an environment where I can’t control my costs or I can’t respond to market conditions people in California is trying to sell their properties at a record rate because they don’t want to participate in that market people in New York.

They don’t want to participate in the rental market and so that’s when you start to see supply and demand issues and you also you also tend to see people trying to get into the buying and selling market instead of getting into the rental market which is often at times the pathway that people ultimately get into as far as ultimately getting into homeownership right they don’t want to participate in a market where they’re renting out to people and then they can’t respond to market conditions I don’t want to be controlled by the federal government or my local municipality in that way because if that’s the case and I’ll just get out of the rental market all together and I just develop properties and then sell them at a crazy price based off of the rent or based off of the market conditions because I know that supply and demand is always gonna be an issue.

!nd housing is a problem and as we grow the population people are gonna need more places to stay and they just gonna need it at a lower rate and so that’s when competition starts to come into play and again like she said not based off of hedge funds but mom and pop investors most people that are participating in a rental market most people that are participating in a rental market are one two property owners outside of the hedge funds and all the reason the hedge funds got into it is because the market conditions was so bad that they had to put a you know participate in the industry where it’s safer to park their money and they know real estate was the best way to do it so they started buying up all of the real estate because the market was too volatile and the interest rates was so bad so dumb bro just say you and your family have a large rent controlled unit and then those wonderful children grow up and move away I feel ya well now you’re in this giant unit but you can’t afford to move because you’re trapped by your low rental cost that’s what’s happening in New York.

family down the hall wants to move into your larger unit but they can’t because they’re trapped too and they’re just out of space it is not a good way to control a market and most of the time people hold on to those units forever because they never ever want to move out of it because it’s a rent controlled environment and then the landlord is stuck with that particular unit rent controls are bad what we should have instead are better local zoning decisions now the third thing in this plan is that there’s gonna be an offer of free money down payment assistance help those first-time buyers get in a house I love down payment assistance especially when it’s done by tax credits when it’s done by bond money approved by voters y’all if the federal government wants to hand people money for buying houses that’s what causes inflation.

how is it gonna be that we can get y’all educated on this every time the government starts printing money as young people say it goes brrr when the Fed prints money that causes inflation and so when you add $25,000 in free money to a house you just drove the cost up by $25,000 now you’re gonna drive it up by even more because more people are gonna want to participate in it I just wish that when any political person rolls out a housing plan they talk to some of us in housing and it doesn’t sound like she talked to anybody it don’t sound honestly I’m gonna be honest with you I think that most of that money is gonna go to fraud and scammers and migrants in the first place I don’t even think that it’s gonna affect people in a positive way I don’t think the people are even gonna get control of that money even if it was something that they can do in the first place I don’t think it’s something that they can do but let’s just say hypothetically that they do it is going to go to is going to go to the people that are finessing it’s not gonna actually go to consumers and we know historically when the government participates in something the cost of it is 20 times more than what they say it is it gets passed on to the taxpayers and then they say rich people need to pay their fair share
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