America will become a renter nation': Grant Cardone warns the US could see 100-year mortgages

[Mejappz]

Considering the US economy is entirely built on usury it's plausible that this scenario could unfold. Your descendants may find themselves burdened with the weight of inherited debt long after you've passed, perpetuating a cycle that spans generations.


With elevated interest rates and persistently high home prices, American homebuyers have felt firsthand the squeeze on their budgets.

According to real estate mogul Grant Cardone, the necessity for substantially longer mortgage terms is on the horizon.

“The savior of America will not be lower prices, it will be longer mortgages,” he said in a December TikTok video. “In your lifetime, you will see mortgages go from 30 to 40, 50 and maybe even 60 years. You could, if you live long enough, see a 100-year mortgage in America.”

Despite this, Cardone expresses skepticism about the role of mortgages in achieving true home ownership.

“A mortgage is just a fancy way to say you own some sh-t that you don’t own,” he explained.

Looking ahead, Cardone anticipates a significant shift in lifestyle and consumption patterns. He sees a future where renting becomes the norm across various aspects of life.

“America will become a renter nation,” he predicted. “You will rent your cars, you will rent where you live, you might even rent your clothes in the future.”

But what if you're still keen on investing in real estate, considering its reputation as a hedge against inflation, a source of passive income and a way to diversify your portfolio?

Well, despite the current economic challenges, there are indeed strategies to invest in real estate that don't involve taking on substantial debt. Here’s a look at three of them.

MSN

 

[ucbruin]

Financial Influencer Grant Cardone Says He Can Make You A Billionaire. His Investors Claim He Defrauded Them.​

"Mounting legal troubles against the social media phenomenon have not stopped him from continuing to promote questionable business ventures to his millions of followers."

Grant Cardone Says He Can Make You A Billionaire. His Investors Claim He Defrauded Them.

Mounting legal troubles against the social media phenomenon have not stopped him from continuing to promote questionable business ventures to his millions of followers.

www.huffpost.com

 

[Mejappz]

Financial Influencer Grant Cardone Says He Can Make You A Billionaire. His Investors Claim He Defrauded Them.​

"Mounting legal troubles against the social media phenomenon have not stopped him from continuing to promote questionable business ventures to his millions of followers."

Grant Cardone Says He Can Make You A Billionaire. His Investors Claim He Defrauded Them.

Mounting legal troubles against the social media phenomenon have not stopped him from continuing to promote questionable business ventures to his millions of followers.

www.huffpost.com

Yes, Brother Bruin Cardone is a shyster but what he says in the article is quite plausible.

 

[George Hatch]

In the lower pricing ranges most people are buying the payment. It is the effective demand that counts in the supply/demand dynamic.

$500k mtg @ 7% interest over 30 yrs is $3,327
$500k mtg @ 7% interest over 100 yrs is $2,919

Unless we're getting into adjustable rates, enabling every $3327-capable buyer to finance at 100yr amtz will enable them to pay $560,000 instead of $500,000. AND that result will lead to higher property tax assessments. In the end the net benefit will go to the haves (sellers) and the assessors. And the lenders. At the expense of the have-nots (buyers).

 

[RCA]

Considering the US economy is entirely built on usury it's plausible that this scenario could unfold. Your descendants may find themselves burdened with the weight of inherited debt long after you've passed, perpetuating a cycle that spans generations.


With elevated interest rates and persistently high home prices, American homebuyers have felt firsthand the squeeze on their budgets.

According to real estate mogul Grant Cardone, the necessity for substantially longer mortgage terms is on the horizon.

“The savior of America will not be lower prices, it will be longer mortgages,” he said in a December TikTok video. “In your lifetime, you will see mortgages go from 30 to 40, 50 and maybe even 60 years. You could, if you live long enough, see a 100-year mortgage in America.”

Despite this, Cardone expresses skepticism about the role of mortgages in achieving true home ownership.

“A mortgage is just a fancy way to say you own some sh-t that you don’t own,” he explained.

Looking ahead, Cardone anticipates a significant shift in lifestyle and consumption patterns. He sees a future where renting becomes the norm across various aspects of life.

“America will become a renter nation,” he predicted. “You will rent your cars, you will rent where you live, you might even rent your clothes in the future.”

But what if you're still keen on investing in real estate, considering its reputation as a hedge against inflation, a source of passive income and a way to diversify your portfolio?

Well, despite the current economic challenges, there are indeed strategies to invest in real estate that don't involve taking on substantial debt. Here’s a look at three of them.

MSN

Based on my quick research, e.g. looking at the Wikipedia information --- he is best described as a Scientology follower, car salesman, training coach shyster. Hardly an expert in economics. He has fired many who worked for him and refused to follow Scientology. He has a troubled past, to say the least. He does have Scientology behind him, for what that is worth.

Hundred year mortgages? Come on, you can't take that seriously.

 

[Mejappz]

Based on my quick research, e.g. looking at the Wikipedia information --- he is best described as a Scientology follower, car salesman, training coach shyster. Hardly an expert in economics. He has fired many who worked for him and refused to follow Scientology. He has a troubled past, to say the least. He does have Scientology behind him, for what that is worth.

Hundred year mortgages? Come on, you can't take that seriously.

He's not the only one suggesting that possibility. In the 1980s, during Japan's Real Estate Bubble, this idea gained significant traction. However, with the housing market on the verge of implosion, I agree that the likelihood is slim. Yet, we shouldn't underestimate the determination of central planners in this country and their obsession with ensuring everyone has a home, regardless of affordability.

 

[Mejappz]

I recently checked on my parents' original home, located in a lower-middle-class neighborhood, a property they acquired back in the mid-1970s for $36,000. I discovered that the very same house had hit the market last week with a price tag of $1,100,000. It's intriguing to consider that while the property value has soared, the neighborhood's median income likely hasn't seen a comparable increase, especially when measured against inflation.

 

[ucbruin]

Stand with Trump; Fund the $355M Unjust Judgment​

"My name is Elena Cardone and I am a wife of Grant Cardone, mother and an ardent supporter of American values and an advocate for justice, I stand unwaveringly with President Donald Trump in the face of what I see as unprecedented and unfair treatment by certain judicial elements in New York."

 

[RCA]

He's not the only one suggesting that possibility. In the 1980s, during Japan's Real Estate Bubble, this idea gained significant traction. However, with the housing market on the verge of implosion, I agree that the likelihood is slim. Yet, we shouldn't underestimate the determination of central planners in this country and their obsession with ensuring everyone has a home, regardless of affordability.

Like it or not the world is going through change, the likes we have never seen. Nobody really knows where we are headed. Nobody knows 30 years from now how different segments of the population will be earning their income and how much these various segments can earn. Most raw productivity will be done directly by AI and robots. People will be at best AI managers - at worst human AI monitors or even worse: Unemployed. In many many cases, we can be absolutely sure that a large segment of the population will be living off government subsistence stipends.

A 100 year mortgage? No, not on your life. Not possible. By the time the house is paid off, the owner would be dead. What's the sense? None.

I would suggest the following:

1. The government will build many different kinds of housing from luxury SFRs in isolated areas, to duplexes, triplexes, quadraplexes to 6-unit apartment buildings on up to mid-rise and high-rise housing complexes. This is only assuming future governments can greatly increase their degree of efficiency and managment of the economy.

2. People can apply for and sign contracts to be granted multi-year leases on such properties, whereby they will be responsible for ensuring certain standards of maintenance, cleanliness and access. Such contracts will likely be based on what individuals can provide the local, state or federal government in terms of time and labor. There will be options for partial up-front cash payments. In fact those with cash, may be able to afford 100% ownership. But, in most cases, it will be a question of partial ownership vs indebtedness to the state. There will be periodic reviews of the contractual obligations and property condition.

3. There will be echelons of home owners, based on education and profession.

4. I would suggest 5, 10, 15, and 20 year contracts.

5. There will be programs to arrange for transfer of housing should the need arise.

6. And at the end of housing contracts, the state system will be biased towards providing similar housing, provided the previous contract ended satisfactorily.

7. "Housing rights" rather than "ownership" will play the central role.

8. Traditional housing ownership will only be possible through inheritance of either the housing or wealth, or through cash earned legitimately by certain individuals or organizations.

Anything else, is probably wishful thinking.

Such a system could be utopian nirvana - for some. Others may opt to hoard whatever cash they have and do something else with their money, whilst living with the most frugal housing available.

But who knows. We will have a better idea in 30 years.


Alternatives: Housing provided by GSEs. Would that be any better? Probably not. If AI is going to control things, then one can argue that private ownership, i.e. "pride in ownership" is possibly not as good. Instead you will be visited by a nasty robot who will race through your house, cite a long list of deficiencies and tell that if you don't start doing a better job, you will lose your contract. Like a scolding mother or housewife. Your life will be oh so gruesome if you don't do what mother asks.

 

[Meandering]

Feudalism 2.0


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