Grant Cardone Warns Monthly Rent Could Skyrocket To $8,000 And 'You'll Own Nothing, No One Will Own Anything'

Billionaire real estate investor Grant Cardone shared his thoughts on what America might look like in 20 years during an interview with Grant Mitterlehner in March 2024. While he jokingly began by saying “Donald Trump will still be president…he’s a dictator” and describing a “Trump Dynasty” lasting two decades, Cardone quickly turned serious.

He predicted the U.S. dollar will still be the global reserve currency, backed by the military’s power. However, he warned that rents could skyrocket to “$7,000 or $8,000 a month” as wealth inequality increases, stating “you’ll own nothing, no one will own anything, there will be fewer and fewer people own everything.”

Cardone’s prediction of $7,000-$8,000 monthly rents and owning "nothing" might seem extreme, but the data paints a concerning picture of a future where housing affordability becomes a major challenge, potentially aligning with his broader theme of wealth inequality.

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Doorloop reports that since 1980, average rent inflation has consistently outpaced the average currency inflation by a margin of 1.27%. This disparity has only intensified in recent years, with the last decade witnessing rent inflation outpacing currency inflation by 40.7%. The average annual rent increase has been a substantial 3.18% since 2012. This steady rise in housing costs has put significant strain on households, particularly those with fixed incomes or limited financial flexibility.

According to NPR, a recent report from Oxfam sheds light on the soaring wealth of billionaires, revealing that the world’s five richest individuals have collectively doubled their fortunes from $405 billion to $869 billion since 2020, equivalent to $14 million per hour, while nearly five billion people have experienced a decline in wealth. Oxfam’s Riddell notes that although their 2022 report conveyed a similar message, the unprecedented magnitude of wealth accumulation among the elite during a period of widespread hardship is particularly striking.

Cardone says he envisions an “AI full world” taking shape, where virtual reality and digital avatars become deeply embedded in daily life and the workforce. He believes AI will spawn whole new categories of jobs and professions that don’t exist today, mirroring how the internet upended and revolutionized entire industries. People may find themselves working as digital avatars for hire across virtual worlds and environments.

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Despite the challenges of high costs and wealth concentration, Cardone remains optimistic about America’s future potential. But he cautioned that people need to “stand up and say stop the madness” of excessive government regulation, censorship and control that he felt materialized during the COVID pandemic.

Cardone advocated for policies that encourage entrepreneurship, success and legal immigration to attract the world’s top talent. He also urged limiting overseas military interventions to instead focus resources on rebuilding America’s aging infrastructure. 

The billionaire stressed his belief that if government gets “out of these people’s way,” Americans will innovate and build successful businesses that maintain the nation’s economic leadership.

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