'America will become a renter nation': Grant Cardone warns the US could see 100-year mortgages

"Financial Influencer Grant Cardone Says He Can Make You A Billionaire. His Investors Claim He Defrauded Them."

https://www.huffpost.com/entry/grant-cardone-financial-influencer_n_64ada368e4b0e87d65574e9b

This fucker is trying to establish his evil plan to make billions as an expected standard.

Grant Cardone is a Scientologist who more or less runs a variety of real estate scams to enrich himself and other prominent Scientologists.

That being said, I would not be surprised if we end up with 50 year mortgages, but 100 seems absolutely insane to me as just... most people do not live that long.

Renting clothes? Honestly, this wouldnt surprise me either.

Its kind of a perfect scam actually: Set up the terms and conditions such that if there is any damage to the clothes, you have to pay for their repair or replacement, and then also offer clothing rental insurance for an extra fee, just in case!

Pay a bunch of instagram and tiktok influencers to rep various fashions and the clothing rental company, and of course manufacture all the clothes in sweatshops in the global south and charge something like 10 to 1000 times the variable cost of making any particular clothing item to the global north, but then rent the article of clothing for what 1/3 of the that number, per week.

Works much better if you can make certain clothing items /only/ rentable and not outright purchasable via basically coordinating with existing brands, exclusivity works to get gamers to shell out stupid amounts of money for basically unique cosmetics, why wouldnt it work here?

People bought gamer girl bath water, Republicans have destroyed public education, scrolling insta or tik tok all the time is basically known to cause various mental disorders but people so it because its addictive like a drug...

... yes i absolutely believe American Gen Zers would fall for this, and probably a good number of Millenials too

Hooray Capitalism!

Anyway, I think Cardone is saying stuff like this to try to posture as a concerned citizen, meanwhile, if I am not mistaken, I am fairly sure he is facing legal trouble relating to basically running a real estate flavored ponzi scheme. So I mean he is a real estate guy rofl, and I think his general concern is valid.... its nearly certainly just him doing his own PR.

100 year mortgages are already a thing in Japan. Generational wealth? LOL - let me introduce you to generational debt.
https://www.sciencedirect.com/science/article/abs/pii/1061951895900047
- Well that is depressing.
- May I present Infinity Mortgages from Canada.
- In Switzerland most mortgages don't have limits. For tax purposes, it only makes sense to pay off a mortgage before retirement.
Renting clothes? Honestly, this wouldnt surprise me either.
Unironically, I would lease all my kids clothes from like 3-8 years old. Wouldn't think twice about it. That's a solid idea.
My son has outgrown THREE pairs of shoes this year. Kid grew a foot and gained like 20 pounds.
- so what do you do with the leftover shoes?
Rent-a-Swag wants royalties!
- Thank you.
  I was reading that whole thing thinking, "Tom Haverford is absolutely flipping out over this."
- Rent the runway owes him a lot of money.
just... most people do not live that long.
That's the point though. Even after generations paying on the same house the bank gets it back to "sell" again

Neofeudalism is the goal of capitalism, always has been.

I feel like the purported capitalism that's run rampant for centuries is just an extension and rebranding of the OG feudalism. Always thought that.
- Very true, been touting this for years. The rich tricked the peasantry into helping them take over the aristocracy. Now we have less legal protections than a medieval serf.
- Basically. The original bourgeois fighting against the feudal lords basically changed just enough so that they themselves could become lords, or lord like, with no so much care for anyone below thier own class.
- You are not alone in believing this.
- There are significant differences, but yes, in a way. Class conflict has always been at the core of modern human history, and when the bourgeoisie and Proletariat teamed up against the Aristocracy, Capital was transfered from the hands of the microscopically few to the hands of much more. However, this is an incomplete transfer of power, and as Capital consolidates, it trends back to a form of Feudalism.
You will own nothing and be happy.
- imo its more like: You will own nothing and be miserable

Or…perhaps…instead of 100-year mortgages we learn from the French and start separating heads and wealth from the 1% that are trying to own everything so they can rent it to us.

Learn from the French
Seperating heads

Is this real, or satire?
- Yes.
  It's a rip from cassette days when there were dire warnings of "Home taping is killing music. And it's illegal". There were some concerns about home sewing doing the same thing but even the doom sayers knew it was kind of lame to make too big a stink about. Now it's more a call to arms to diy.
- A real version would use knitting needles instead of bones.

In Montreal, ~~Québec, 0.045% of the population own over 30% of residential properties.~~

Edit: actually that's 0.46% of property owners own 32% of rental properties in Montréal.

Source (French)

Only 36% of Swiss people own their homes.
- And it keeps getting worse: crazy inflating property prices and matching rent hikes.
  A French comedian did a local show. He made a joke that he was going around town looking at the shops. He saw a real estate office and was dumbfounded by the prices. He exclaimed how half a million for an apartment was insane. People laughed and someone mentioned he was way off, it's worse than that. Half a million maybe gets you a small one-bedroom studio in a city, not an apartment.
- Worth noting that homeownership has never been part of the Swiss Dream like it's part of the American Dream. Still, the average Swiss person is significantly better of financially than the average American.
  Same is true to some degree in Germany.
Leave major cities.
You will never own property in one.
- Cities are where the jobs, the events and the people are. Most people don't want to live in suburban hell or middle of nowhere.
- This is short sighted, however. It may be true in the moment, but in time, the corporate world will gobble up as much as they can and rent it forever, without regulation.
- I wish I could but that's where my girlfriend's job is. And she can't find that same kind of job anywhere else. Her field is very specific.
  But even smaller cities have become unaffordable now.
- my wife's a university lecturer. Do we have to move the buildings or do we just hold classes in the open fields?
- I already did, would never want to live in one either. People living in rectangular hives on top of each other, hearing every annoying noise and bump that the others make at any hour of the day or night... Nah.
Ben La!!
Source?
- Ah my bad I misread it last time.
  "0.46% of the landlords own 32% of rental properties."
  Source (French)

I keep saying this, companies want a lifeline to your wallets.

But nobody wants to listen.

companies want a lifeline to your wallets.
And they also turn around and refuse to pay anyone enough to be able to afford things. It's wild.
Yup, the regularly scheduled amount they want you paying keeps going up.

I'm going to sit down with Mom and get a refresher course on sewing. I can make simple stuff.

I have made clothing patterns in Autocad and printed them out on a plotter before. Going to pirate some pants.

You wouldn't download pants...
- You nicknamed your dicklet "needle"?? Whatever floats your boat I guess.
- Don't be such a pants pirate.
Sorry, that was a poor attempt at a joke.
- Says literally only you. Relevant username, I see.

Everyone loves a planned economy pretending to be a free market. It just happens that the plan of the US economy is to give alllll the money and assets to a small selection of political sugar daddies.

Just popping in to remind everyone that 'free market' as commonly defined is a misnomer.
The market tilts toward imbalance always, and the notion that it regulates itself is a myth. The consolidation we see today and rave against as a 'planned economy' is not an aberration of the free market, it is exactly the thing it was expected to do.
no matter as long as I have my place in heaven and all my sins are forgiven... who needs money, health or even happiness? God bless america, gimme guns, freeeeedom! /s

I mean... we are kitty corner from straight up feudalism.

Edit: Protip: Feudalism is Anarchy where the top dogs are really abusive about asserting their dominance.

says we might even rent out clothes

With today's fast fashion churning out clothes with shorter and shorter lifespans combined with our cultural love of replacement over repair, we basically already do.

I always find it amazing that people actually give a fuck about fashion and don't just wear what they like. I don't get it, fashion is supposed to be a statement about yourself, not about the company that made your clothes. Wear a T-shirt and jeans, wear cargo pants, wear whatever you want because you're supposed to be making a statement about who you are, not who a company wants you to be.
- Advertising is a hell of a drug.
- Fashion is wearing what you like, unless you're talking about trends.
It's already begun... https://www.nuuly.com
- And https://www.renttherunway.com
I mean, any who engages in 'fast fashion' deserves to get taken advantage of to the fullest extent possible.
What a bunch of trite just to feel superior to others who are poorer than you.
- Some people eat too much because they are sad inside.
  Some people get into drugs because their lives are unfulfilling.
  Fast fashion is just another kind of hole being filled by another kind of 'capitalism makes you miserable, but also you can feel a little better momentarily for $16.99!'

they United States Federal government holds the note on my house. I'm paying 1% interest. for 33 years.

it's a pretty sweet deal.

And how would one accomplish that?
- Service guarantees citizenship.
  Would you like to hear more?
- USDA direct loan. the rates went up this year but they still give a deferment for financial hardship. I think it's called a 502 or 503 direct loan.

Do you want drastically increased theft? Because that's how you get drastically increased theft

Yes, they do. They will then increase the punishment saying it’s to discourage more (proven not to work) so they can arrest people for long periods and have their legal slave labor.

If this happens...anyone want to be a ter---uh rebel?? silently lights up cocktail

Grant Cardone? Not even remotely credible, this is a joke.

This is like the 3 article I've seen of this douche in the past two weeks spouting off his feudalistic horseshit. This dude wants so bad to be a lord over his minions.

What a load of crap. “if these data points I cherry picked hold to this trend in a straight line forever” blah, blah, blah. By the way, buy my book

you can already rent tuxes and wedding dresses, for years now tho??

- Damn you guys look fly as fuck...
- You look like an Irish mob boss who runs a 24/7 soup kitchen and sends his enforcers to guard union strikes. I mean this in the best way.
- 😍 congratulations! yeah, you look great.
  you should be rioting in the streets.
  The Texas Cox decision pretty much seals we're too fffn asleep to be in the streets about anything now.

Somebody's been reading Snow Crash again.

I will kill myself if life ends up this bad.

If you're already prepared to die, take out a massive summit of the fuckers that have made things so bad while you do it! Put the fear of the people back in them.
- No thanks.
- Make sure actual innocent people don't get hurt
- I own a nice house and am pissed as fuck about that bullshit. My hypothetical kids, and more importantly the real kids that exist shouldn't have had the ladder pulled up so they can't even survive in this bullshit.
It won't for you, it will for your kids and kids kids

Nah, they just don't make sense for people with the way amortization works. It's not like doubling the length of the mortgage halves the payment. At 7% interest, for example as it's sort of close to the current average, changing a 30 year mortgage to a 100 year mortgage is about a 12.24% reduction in the monthly payment.

Aww, the peasants are unhappy. Better get the lobbyists on the line again
You're assuming people won't vote directly against their interests. This is America lol
A majority of people should always be renters, and homes should lose value over time if not rehabbed. Until both of those boxes are checked, housing prices will continue to rise.
- Why should a majority of people be renters?
  Prices are high because of hoarding by land barons and corps while we simply don't build enough in my opinion.

Because our money is worthless and all the wealth is in the hands of people we'll never even see bc they live in the modern equivalent of castles? But hey at least we can finance cheap useless mass produced shit from overseas and feel so bougie

Anyone wanna rent my pants? It only has one yellow stain.

You will have no privacy, own nothing, and be a prisoner.

AAS (as a service) is coming in all forms. We're almost there, in reality. Cars, houses, etc etc.

FTA:

"you might even rent your clothes in the future."

The future?

https://www.mysubscriptionaddiction.com/best-clothing-subscription-boxes

I don't think any of those make you return the clothes after a set period of time, do they? Because clothes are not especially desirable used for the same price as new.
- https://www.renttherunway.com
  They do have options to buy though.

The difference between the two largely becomes academic after a certain point. Impoverished masses toiling in exchange for minimal benefits so that an oligarchy can strip the nation's economy dry.
It's almost like we can't blindly trust people in power or something.
- I have zero ability to vote out oligarchs, so definitely not the same past that point.

Wait, are we renting or are we having 100 year mortgages?

You'll have to pay a 100 year life mortgage for the opportunity to rent everything. Think of it as a subscription to stay alive in America
/s
What?
I guess what's the difference at that point (beyond gaining some equity I guess)? Otherwise, the outcome is the same: paying someone every month to live there, and you'll never own it because you'll die before you pay it off.

Is that why it’s tearing itself apart? /s

capitalism FTW!

Hanes brand has entered the chat.

Don't give this moron the attention he craves.

Yeah this probably won't happen