In a recent conversation that could raise eyebrows and spark debates, the focus turned to the housing crisis and economic policies surrounding New York City. At the center of this discussion was Grant Cardone, CEO of Cardone Capital, who expressed his concerns about the direction some political leaders are heading. It seems there’s a new political player stirring the pot in New York, and Cardone wasn’t holding back on his thoughts about it.
The conversation started with a rather alarming revelation—$14 billion has already fled New York City as businesses and residents reevaluate their choices. Cardone, who has substantial investments in real estate, made it clear that he was among those pulling the emergency lever. With proposals now being floated that could substantially redefine the way housing is approached—like community land trusts and transforming buildings into public ownership—he pointed out that these ideas sound appealing in theory but miss the practical mark. After all, in the real estate game, it’s all about the math, and the numbers just don’t add up.
The stats concerning residents leaving New York City were equally alarming. A whopping 177,000 people have exited the city, with about 25% of the population contemplating a similar escape if certain policies take root. Cardone indicated this very instinct is a clue—an unmistakable signal that many do not agree with the direction the current political landscape is taking. If New Yorkers start to feel like their beloved city is morphing into something unlivable, the repercussions could be long-lasting and detrimental.
Cardone wasn’t shy about highlighting some of the absurdities of the proposed policies, reflecting on how rent control and heavy regulations have historically led to fewer buildings being constructed in major cities. He noted that this situation has paradoxically inflated prices in areas where such policies were supposed to ensure affordability. What’s more, with a significant amount of housing units sitting off the market—estimated to be around 100,000 in New York—there seems to be a growing disconnect between well-meaning policies and real market conditions. As he put it, without incentives for builders, nothing gets built, and everyone suffers the consequences.
Turning to Florida, Cardone took note of how the Sunshine State seems to be benefiting from the discontent brewing in New York. With Florida’s absence of stringent regulations and a welcoming attitude toward investment, it’s becoming the obvious choice for those wishing to escape the frustrations of urban life in a city like New York. The cherry on top, according to Cardone, might be that as more Democrats feel disillusioned with their party’s direction, they could lean toward the Republican Party—a move that would shake up the political landscape even further.
In an economy where every home, every apartment, and every investment counts, the decisions policymakers make today are pivotal for tomorrow. Cardone, along with many others, is watching closely as the political scene unfolds, hoping for a return to common sense that puts a premium on building rather than limiting opportunities. With stakes this high, one can’t help but wonder—where will the dust settle as the battle for New York’s economic future rages on?
