https://finance.yahoo.com/news/america-become-renter-nation-grant-120000726.html
The bestselling author and investor looks into a crystal ball.
"Financial Influencer Grant Cardone Says He Can Make You A Billionaire. His Investors Claim He Defrauded Them."
https://www.huffpost.com/entry/grant-cardone-financial-influencer_n_64ada368e4b0e87d65574e9b
This fucker is trying to establish his evil plan to make billions as an expected standard.
I listened to his audiobook before I knew who he was. I just kept thinking to myself “this guy seems like an out of touch fuckwit.” I couldn’t help but disagree with so much of what he said to the point that I lost any desire to acquire any wealth. I figured I’d rather die poor in a ditch than become anything like this human leech. I’m still a bit dirty that I gave him a couple of dollars for his book but at least I know what I don’t want to be so that’s something I guess
Grant Cardone is a Scientologist who more or less runs a variety of real estate scams to enrich himself and other prominent Scientologists.
That being said, I would not be surprised if we end up with 50 year mortgages, but 100 seems absolutely insane to me as just... most people do not live that long.
Renting clothes? Honestly, this wouldnt surprise me either.
Its kind of a perfect scam actually: Set up the terms and conditions such that if there is any damage to the clothes, you have to pay for their repair or replacement, and then also offer clothing rental insurance for an extra fee, just in case!
Pay a bunch of instagram and tiktok influencers to rep various fashions and the clothing rental company, and of course manufacture all the clothes in sweatshops in the global south and charge something like 10 to 1000 times the variable cost of making any particular clothing item to the global north, but then rent the article of clothing for what 1/3 of the that number, per week.
Works much better if you can make certain clothing items /only/ rentable and not outright purchasable via basically coordinating with existing brands, exclusivity works to get gamers to shell out stupid amounts of money for basically unique cosmetics, why wouldnt it work here?
People bought gamer girl bath water, Republicans have destroyed public education, scrolling insta or tik tok all the time is basically known to cause various mental disorders but people so it because its addictive like a drug...
... yes i absolutely believe American Gen Zers would fall for this, and probably a good number of Millenials too
Hooray Capitalism!
Anyway, I think Cardone is saying stuff like this to try to posture as a concerned citizen, meanwhile, if I am not mistaken, I am fairly sure he is facing legal trouble relating to basically running a real estate flavored ponzi scheme. So I mean he is a real estate guy rofl, and I think his general concern is valid.... its nearly certainly just him doing his own PR.
100 year mortgages are already a thing in Japan. Generational wealth? LOL - let me introduce you to generational debt.
https://www.sciencedirect.com/science/article/abs/pii/1061951895900047
In Switzerland most mortgages don't have limits. For tax purposes, it only makes sense to pay off a mortgage before retirement.
Renting clothes? Honestly, this wouldnt surprise me either.
Unironically, I would lease all my kids clothes from like 3-8 years old. Wouldn't think twice about it. That's a solid idea.
My son has outgrown THREE pairs of shoes this year. Kid grew a foot and gained like 20 pounds.
Thank you.
I was reading that whole thing thinking, "Tom Haverford is absolutely flipping out over this."
just... most people do not live that long.
That's the point though. Even after generations paying on the same house the bank gets it back to "sell" again
I feel like the purported capitalism that's run rampant for centuries is just an extension and rebranding of the OG feudalism. Always thought that.
Very true, been touting this for years. The rich tricked the peasantry into helping them take over the aristocracy. Now we have less legal protections than a medieval serf.
Basically. The original bourgeois fighting against the feudal lords basically changed just enough so that they themselves could become lords, or lord like, with no so much care for anyone below thier own class.
There are significant differences, but yes, in a way. Class conflict has always been at the core of modern human history, and when the bourgeoisie and Proletariat teamed up against the Aristocracy, Capital was transfered from the hands of the microscopically few to the hands of much more. However, this is an incomplete transfer of power, and as Capital consolidates, it trends back to a form of Feudalism.
Yeah, well put. I'm just identifying the underlying class conflict of resource scarcity and power hunger, through all of human history under the guise of any and every governmental system
Very concisely written dude.. really nails the way the shifting about happened
I had a history teacher in the late 90s that lapped up every paper I wrote bc within the boundaries of the assignment, I'd be writing about Che instead of Teddy Roosevelt.
Or…perhaps…instead of 100-year mortgages we learn from the French and start separating heads and wealth from the 1% that are trying to own everything so they can rent it to us.
Yes.
It's a rip from cassette days when there were dire warnings of "Home taping is killing music. And it's illegal". There were some concerns about home sewing doing the same thing but even the doom sayers knew it was kind of lame to make too big a stink about. Now it's more a call to arms to diy.
In Montreal, Québec, 0.045% of the population own over 30% of residential properties.
Edit: actually that's 0.46% of property owners own 32% of rental properties in Montréal.
Source (French)
And it keeps getting worse: crazy inflating property prices and matching rent hikes.
A French comedian did a local show. He made a joke that he was going around town looking at the shops. He saw a real estate office and was dumbfounded by the prices. He exclaimed how half a million for an apartment was insane. People laughed and someone mentioned he was way off, it's worse than that. Half a million maybe gets you a small one-bedroom studio in a city, not an apartment.
Worth noting that homeownership has never been part of the Swiss Dream like it's part of the American Dream. Still, the average Swiss person is significantly better of financially than the average American.
Same is true to some degree in Germany.
Ah my bad I misread it last time.
"0.46% of the landlords own 32% of rental properties."
Source (French)
Cities are where the jobs, the events and the people are. Most people don't want to live in suburban hell or middle of nowhere.
Most people don’t want to live in suburban hell or middle of nowhere.
Well, then they have to pay up.
Supply and demand and all that.
Yeah. And what's funny is, every single person renting gives those corporations more power to do the same thing elsewhere.
This generation failed to appreciate the value of ownership, and they're getting fucked for it left and right.
At least they're not alone, which is what most of them tell themselves.
Most people don't exactly have a choice. They kinda need places to live near their jobs which almost always dictate where they live.
Also, appreciate the value of ownership? How do you expect almost anyone in Gen Z to afford to own anything more substantial than a car? The oldest of us are just starting our professions after getting out of college/trade school, and getting into jobs that don't pay enough to afford a house anytime soon. We never even had the option of ownership because housing is fucked.
Hell I'm one of the lucky ones. I graduated college without debt and I make really good money, but it's gonna take me 5 years to save up a down payment for a $8k a month mortgage despite living well below my means. I can only imagine how fucked it is for the average person who will never have the chance to own anything at all.
We never had the choice to own anything.
This generation failed to appreciate the value of ownership,
This is the dumbest take of the day. And it isn't even 9am.
Stagnant/low wages, price hikes, wealth being funnelled up the chain, and more and more red tape attached to every transaction are the problem. Not people who don't want to own. Get your head out of your ass.
All of the evils we bemoan in modern society start with consumers paying for those evils.
"But I have no choice!"
Choose helplessness, beg our bought and paid for governments to bail you out. How's that working?
Remember how the price of gas collapsed during COIVD? Yeah, because people quit buying.
It's hard to learn self-reliance and related skills. But don't come crying to me saying, "We've never taken ownership of our issues and why won't the government fix it?!"
beg our bought and paid for governments to bail you out.
And
Remember how the price of gas collapsed during COIVD? Yeah, because people quit buying.
They could quit buying because of government assistance pressuring businesses to close. And then providing assistance to those forced to stay home.
This is short sighted, however. It may be true in the moment, but in time, the corporate world will gobble up as much as they can and rent it forever, without regulation.
I wish I could but that's where my girlfriend's job is. And she can't find that same kind of job anywhere else. Her field is very specific.
But even smaller cities have become unaffordable now.
my wife's a university lecturer. Do we have to move the buildings or do we just hold classes in the open fields?
You simply commute to work. That's what people in rural areas who work in cities have done since forever.
If you can't afford to live in the city, then you don't live in the city. That's how you make ends meet and stay financially solvent.
many already commute to work. All this does is make us drive farther. What's in it for me? Cheaper house prices - well we had cheaper house prices but they went away, so now I have to commute more. And when I move, prices go up. so I commute more. And then prices go up again. and so i move. And when I move, prices go up. so I commute more. and so i move.
You really look at the world we're in now and think "you know what this world needs? More vehicle exhaust emissions, tire wear, and longer working hours - but hey, at least Blackstone got to create a monopoly on empty houses!"
Why do I have to take the soggy end of a short straw? Why do I have to burn fossil fuels and my free time otherwise I'm SOL? Why can't it be the billion dollar companies who sacrifice a fraction of a percent instead of me sacrificing double-digit percents of my time and money?
Nowhere did I say that any of that "is what the world needs"
I just explained the current reality and a solution for people who might want an answer to their current problems. There's nothing you or I can do about the prices of real estate and rent in the big cities. You can wish it was cheaper to live in the city all day but it's not going to accomplish anything, and Congress and the President are not going to fix it for you either, probably at least in the span of a few decades from now.
So if you want to be able to afford a place to live NOW the answer is what I said.
To recap:
then
???
That's just a pile of shit that you made. Stop trying to make up bullshit that I did not say, when what I said is STILL FUCKING THERE FOR YOU TO READ.
Are you saying it's impossible to live outside of major cities? Or are you trying to argue that life outside of one isn't good enough for you?
Do you think you deserve more before others who have less? Ex: You can't afford living in a major city, but you think someone else should help you out before everyone living outside of major cities?
You can’t afford living in a major city, but you think someone else should help you out before everyone living outside of major cities?
Not this person but, the government should encourage urban residency. You might ask why and the answers are many, many fold. City residents have significantly less of a carbon footprint is for one reason (and it's a major one).
Right now we're subsidizing our suburbs in the US, and it's an environmentally destructive, regressive thing to do.
1 - no
2 - life without a job (by synecdoche I actually mean "money", by which I actually mean with all the caveats of "in the system in which we live and its attendant axioms) is no good for anyone, not just me
3 - no
4 - your assumption is incorrect (that i think that) and your example is not relevant here (not analogous to what i said) so no I don't think that.
1 - thanks for being honest
2 - Can't you get a job outside of a major city?
3 - thanks for being honest
4 - I think my example is very relevant. Either we put measures in place to limit the cost of property, or we spread out and reduce demand.
Our governments are built on making rich people richer as quickly as possible. There's no way we are going to implement safeguards to prevent that unless there is a massive cultural shift.
2 - I challenge you to find 2 fine arts dept curriculum head or better vacancy posts at universities not based in major cities
4 - good idea. I pick the first one.
edit: re the other two honesty doesn't enter into it. your questions were non sequiturs.
2 - That's not my point. My point is that you can find a job and even own property from its salary outside of major cities easier than inside of them.
4 - Cool, so the government should step in to funnel money to you before those who have less than you? Why should you get more before people living in places you deem unworthy of you?
I'll just answer #4 for you: Entitlement. You think you're entitled to more while others have less. Other people should step in for you to subvert supply and demand. Where demand is low and supply is high is not good enough for you, even though millions of people live there.
I already did, would never want to live in one either. People living in rectangular hives on top of each other, hearing every annoying noise and bump that the others make at any hour of the day or night... Nah.
I keep saying this, companies want a lifeline to your wallets.
But nobody wants to listen.
companies want a lifeline to your wallets.
And they also turn around and refuse to pay anyone enough to be able to afford things. It's wild.
Everyone loves a planned economy pretending to be a free market. It just happens that the plan of the US economy is to give alllll the money and assets to a small selection of political sugar daddies.
Just popping in to remind everyone that 'free market' as commonly defined is a misnomer.
The market tilts toward imbalance always, and the notion that it regulates itself is a myth. The consolidation we see today and rave against as a 'planned economy' is not an aberration of the free market, it is exactly the thing it was expected to do.
no matter as long as I have my place in heaven and all my sins are forgiven... who needs money, health or even happiness? God bless america, gimme guns, freeeeedom! /s
I'm going to sit down with Mom and get a refresher course on sewing. I can make simple stuff.
I have made clothing patterns in Autocad and printed them out on a plotter before. Going to pirate some pants.
I mean... we are kitty corner from straight up feudalism.
Edit: Protip: Feudalism is Anarchy where the top dogs are really abusive about asserting their dominance.
says we might even rent out clothes
With today's fast fashion churning out clothes with shorter and shorter lifespans combined with our cultural love of replacement over repair, we basically already do.
I always find it amazing that people actually give a fuck about fashion and don't just wear what they like. I don't get it, fashion is supposed to be a statement about yourself, not about the company that made your clothes. Wear a T-shirt and jeans, wear cargo pants, wear whatever you want because you're supposed to be making a statement about who you are, not who a company wants you to be.
And peer pressure.
I grew up in OC, So Cal, and bailed out to a rural mountain area some years ago. I wear jeans, tshirts, hoodies/jackets and either work boots or flip flops on an average day (I'll still dress up for weddings and other events that call for it). Every time I go back down there to visit, My brother and best friend feel the need to try to dress me like a damn ken doll before we can go anywhere, to no avail and it turns into an idiotic argument every time. I've repeatedly explained that I wear what's confortable, and I don't give two shits what some uppity muppets think of me based on how i'm dressed. I'm already married, have a great job, and make good money, so I'm not out to impress anyone.
For the record, all of my clothes are always clean and in good repair, I just dress extremely casual and confortable. I think these guys are just so would up in the rat race that they have trouble imagining life otherwise.
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I mean, any who engages in 'fast fashion' deserves to get taken advantage of to the fullest extent possible.
What a bunch of trite just to feel superior to others who are poorer than you.
Some people eat too much because they are sad inside.
Some people get into drugs because their lives are unfulfilling.
Fast fashion is just another kind of hole being filled by another kind of 'capitalism makes you miserable, but also you can feel a little better momentarily for $16.99!'
they United States Federal government holds the note on my house. I'm paying 1% interest. for 33 years.
it's a pretty sweet deal.
Wish I would have. At 52, I'd have been retired for 20 years, pulling retirement since then, and fat on benefits. PLUS, working as a government consultant of some sort if I was skilled and chose to do so.
And somehow, people think if you join, you have to pick up an M4 and go fight in a desert. Yeah, those jobs are for people who want them, or are too stupid to do anything else.
USDA direct loan. the rates went up this year but they still give a deferment for financial hardship. I think it's called a 502 or 503 direct loan.
I got a Habitat for Humanity house and mortgage. 0% interest, 0 property taxes. Cost of the home was the cost of purchasing the land and building it.
Keep playing sucker games kids, keep getting suckered, keep bitching.
Or maybe try something?
Do you want drastically increased theft? Because that's how you get drastically increased theft
Yes, they do. They will then increase the punishment saying it’s to discourage more (proven not to work) so they can arrest people for long periods and have their legal slave labor.
This is like the 3 article I've seen of this douche in the past two weeks spouting off his feudalistic horseshit. This dude wants so bad to be a lord over his minions.
Used to be, you about had to rent. Now it's cheaper to own both items.
Just got married last month. Bought my wife's dress for ~$160 and my (second!) tux set for $110. And we looked fly as fuck.
Buying clothes ain't the thing. Capitalism worked great on some fronts! Buying a home is the thing. And capitalism failed hard on others.
Young people got straight fucked on that, and you should be rioting in the streets.
You look like an Irish mob boss who runs a 24/7 soup kitchen and sends his enforcers to guard union strikes. I mean this in the best way.
😍 congratulations! yeah, you look great.
you should be rioting in the streets.
The Texas Cox decision pretty much seals we're too fffn asleep to be in the streets about anything now.
If you're already prepared to die, take out a massive summit of the fuckers that have made things so bad while you do it! Put the fear of the people back in them.
I own a nice house and am pissed as fuck about that bullshit. My hypothetical kids, and more importantly the real kids that exist shouldn't have had the ladder pulled up so they can't even survive in this bullshit.
The thing is, if everyone rents homes, then there will be a ton of political pressure to fix pricing. Of course the system is so broken that there's no guarantee of real change, but it could happen.
That's why I hedged a lot, because people do all sorts of things, and the status is not quo.
A majority of people should always be renters, and homes should lose value over time if not rehabbed. Until both of those boxes are checked, housing prices will continue to rise.
Why should a majority of people be renters?
Prices are high because of hoarding by land barons and corps while we simply don't build enough in my opinion.
If not renters, condo (or something like it) owners. We need to build for density and disincentivize house ownership, because demand exceeds supply by such margins that we are unlikely to resolve it any time in the next generation of we only build houses - plus we are contributing to sprawl and the associated externalities.
LA is a warning, not an ideal.
Because our money is worthless and all the wealth is in the hands of people we'll never even see bc they live in the modern equivalent of castles? But hey at least we can finance cheap useless mass produced shit from overseas and feel so bougie
