High-profile real estate investor Grant Cardone is proposing a new push for multifamily housing construction as the best solution for addressing the nation’s housing shortage.
In a post on X, Cardone pointed to rising costs, labor shortages, and bureaucratic delays in permitting as the main obstacles to single-family housing construction. The solution, he argued, is to aim for multifamily developments that can accommodate more households in a single parcel.
“You can’t build enough single family homes affordably to solve the 5-7 million home shortage,” he pasted. “More realistic to build sixteen thousand 300 unit apartment complexes than 5,000,000 single family homes.”
Earlier in the week, Cardone was on X citing interest rates, property taxes, insurance costs, and principal reasons for a continued decline in the homeownership rate.
“The cost of rent nationwide in the 25 largest cities is 1/2 of the cost of owning,” he posted. “This will continue to persist and get worse. America cannot build ‘affordable housing’ at enough scale to offset this. The only solution is to reduce long term interest rates to the sub 3% range which only President Trump can do by enforcing our partner nations to buy long term treasuries at scale.”
Only where appropriate. not in established single family neighborhoods.
By allowing adu’s, garage conversion ( no parking) or tear down a single family home to build multi family units. Destroying neighborhoods.
Need to resort to a smaller modular unit like Novanookhomes.com – make an affordable option for a starter home; then home owners can move up. Renting is not a solution; there is not appreciation on the dollars spend for renting. When rents get too high as they will continue – will push more people to homelessness. Need to guide them for advancement not keep them in the same spot or actually encouraging their decline. Who are we really trying to benefit?
HOA costs energy costs are too high. Multifamily buildings are sitting vacant in Florida. Nobody wants the condo crisis. There’s so many people complaining they don’t want more multifamily. This guy is doing the absolute opposite.