Real estate mogul Grant Cardone has predicted a potential boom in Florida and Texas real estate markets if Kamala Harris becomes president. In a recent interview with Maria Bartiromo on Fox Business, Cardone argued that Harris’s policies would lead to increased regulations and taxes in states with stricter rules, driving investment towards states with more business-friendly environments like Florida and Texas.
Cardone anticipates that Harris will continue with policies that raise taxes and impose more regulations on property owners, creating a less favorable environment for real estate investment in states with stricter regulations. He believes this will lead to a surge of investment and new residents in states like Florida and Texas, which offer more protection and fewer regulations for property owners. He emphasizes that apartment communities across the country represent the best investment opportunity for the next few decades and advises against investing in states with heavy regulations and potentially rapid tax increases.
While Cardone asserts that Florida and Texas will benefit from a Harris presidency, critics argue that states with stricter regulations, often referred to as ‘blue states,’ have their own advantages. These states often invest heavily in public services, infrastructure, and social programs, which contribute to a higher quality of life and potentially more stable long-term growth.
Cardone’s argument hinges on the notion 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 declining in some areas, these markets may not experience the rapid growth Cardone anticipates. While these states may continue to attract new residents and investors, the quick profits he predicts might be more challenging to realize in a cooling housing market.
It’s worth noting that during his presidency, Donald Trump implemented tax cuts and deregulation that many argue benefited property owners, businesses, and wealthy individuals. However, these policies also contributed significantly to the national debt.
Ultimately, the potential impact of a Harris presidency on real estate markets remains a matter of speculation. While Cardone’s perspective offers an interesting outlook, it’s essential to consider the various factors at play and acknowledge that both business-friendly and regulation-focused states have their own strengths and weaknesses.
