Thu Sep 19 09:00:10 UTC 2024: ## Cardone Capital CEO Slams Harris’ Housing Plan, Advocates for Free Market Solutions

**Washington D.C.** – Grant Cardone, CEO of Cardone Capital, has sharply criticized Vice President Kamala Harris’ economic proposals, particularly her plan to provide $25,000 down payment assistance for first-time homebuyers. Cardone argues that government intervention in the housing market is ineffective and stifles innovation.

“We don’t want government to try to solve free-market problems, because it can’t,” Cardone stated, pointing to the Biden-Harris administration’s infrastructure bill, which allocated $7.5 billion to build 500,000 public charging stations for electric vehicles. Despite this investment, only eight functional stations have been completed.

Cardone also expressed skepticism about Harris’ ambitious plan to build 3 million affordable housing units over the next four years. He argues that such a large-scale government project is unlikely to be successful, especially given the current housing market challenges.

Instead, Cardone advocates for market-driven solutions, highlighting three emerging models that he believes could address the affordable housing crisis:

* **Shared Equity Programs:** Similar to programs in the UK, these programs allow first-time buyers to purchase homes with a shared ownership model, lowering the initial investment required.
* **Tenant-Investor Partnerships:** Companies like Roots are developing models where renters earn equity in their housing by making payments and contributing to the property’s upkeep, eventually leading to ownership.
* **Mortgage-Eligibility Programs:** Programs like Divvy Homes help renters become mortgage-eligible within three years by providing financial guidance and building creditworthiness.

Cardone emphasizes that government-led initiatives, like the Low-Income Housing Tax Credit program, have had limited success in addressing the housing crisis. He believes that the free market holds the key to unlocking affordable housing options for more Americans.

“The market needs to make this change happen, not the government,” Cardone concluded.

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