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I ALREADY STOP CLICKUON THEM
‘No longer the American dream’: Grant Cardone says people under 30 'should not even consider' buying a homeBuying a house has long been considered an essential part of the American dream, as homeownership can be a symbol of prosperity, stability and success. However, real estate mogul Grant Cardone argues that this notion no longer holds true.In fact, for young Americans, Cardone believes that the idea of home ownership simply shouldn’t cross their minds right now.“Anyone under 30 years old should not even consider buying a home at this time,” he wrote in a recent post on X.Cardone, who once called buying a home “the worst investment people can make,” went on to highlight the heavy financial burden of homeownership.He wrote that the average home now costs $436,000. He didn’t cite a source for this figure, but the median sale price of houses in the U.S. in the first quarter of 2024 was $420,800, per the U.S. Census Bureau.“The total annual outlay is $50,000 a year ($4200/mo),” he wrote, explaining that this amount includes interest payments, property taxes, HOA (homeowners association) fees, PMI (private mortgage insurance) and maintenance costs.As a result, Cardone recommends that young people consider renting instead.“You can rent for under $2,000 with no long term commitment, down payment & keep your mobility,” he wrote, concluding that “Buying a house is no longer the ‘American dream.’”