In a recent interview with Maria Bartiromo on Fox Business, real estate mogul Grant Cardone discussed the potential impact of a Kamala Harris presidency on property owners, especially in states like Florida and Texas. According to Cardone, these states could see major benefits due to their pro-property owner policies, contrasting with the stricter regulations and higher taxes he associates with Vice President Harris.
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Cardone pointed out that if Harris wins, states with strict rules and regulations could face even more difficulties for property owners. He expects Harris to continue with policies that raise taxes and add more regulations. “She will continue to do what she’s done her entire career, which is more regulations, higher taxes, and allow property owners to be penalized for owning property,” says Cardone. However, there’s no evidence to support his claims.
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Because of her supposed future policies, states like Florida and Texas, which have friendlier business environments and better protections for property owners, could see a big increase in investments and new residents.
He believes apartment communities around America are the single best investment for the next 10, 20, and 30 years and that people should avoid blue states because of the heavy regulations and “taxes being increased overnight.”
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“Housing cannot be fixed in this country no matter what anyone does. There’s no such thing as affordable housing. Every major city, San Francisco, New York, Chicago, and all these cities that talk about affordable housing ... the housing has become less affordable,” pointed out Cardone to emphasize the gap between mortgages and rent.
While Grant Cardone argues that states like Florida and Texas could benefit if Harris gets elected, others point out that states with stricter regulations, often dubbed “blue states,” have their own advantages. These states typically invest more in public services, infrastructure, and social programs, which can lead to a higher quality of life and more stable long-term growth.
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It's true that during his presidency, Donald Trump lowered taxes and reduced regulations, which many argue benefited property owners, businesses and wealthy people, but also added $1.9 trillion to the U.S. national debt. In 2017, Trump signed the Tax Cuts and Jobs Act, which lowered the corporate tax rate from 35% to 21% and reduced income taxes for many Americans.
Cardone’s argument hinges on the idea that Florida and Texas will remain attractive due to their business-friendly environments. However, with more houses already available and prices leveling off or even dropping in some areas, these markets aren’t as hot as they once were. While these states may still attract new residents and investors, the quick profits Cardone expects might not be as easily realized due to the cooling housing market.
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This article Florida And Texas Could Reap Huge Benefits If Harris Wins, According To Grant Cardone. 'They Protect The Property Owner' originally appeared on Benzinga.com
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