Grant Cardone Thinks The Average Rent In America Will Nearly Double In The Next Decade – And He's Invested Accordingly
In a May 24 interview with VladTV on YouTube, real estate titan Grant Cardone said he thinks the average rent in America will nearly double over the next 10 years.
When asked to make a prediction about the residential rental market, where Cardone has made significant investments in recent years, he said that the average rent in America is about $1,800 today and he thinks it will rise to nearly $3,000 in 10 years, which would represent an increase of about 66.7%.
Cardone said that the disparity between ownership and renting has never been greater, so if mortgage rates do not come down, rents have to go up.
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Cardone goes on to say that it's 50% cheaper to rent than it is to own a home in America, a point he's made several times on his X social media account. In a recent post on X, he gave seven reasons why people should rent instead of buying a home, noting the expenses involved with owning a home and the benefits that come with renting, such as the amenities offered by apartment complexes.
Cardone provided further clarity on his stance when he said, "Anyone under 30 years old should not even consider buying a home at this time." His highlights on this thought include the significant costs of purchasing and maintaining a home, which comes to about $4,200 per month.
In summary, Grant Cardone has been consistent with his messaging – if you are currently looking for a place to live in the United States, you should rent until mortgage rates come down enough to justify buying a home.
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Image courtesy of Cardone Capital
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