By Oke Kay Snyder
Ah, yes, Grant Cardone, the man who turns real estate discussions into the spiciest tabloid headlines, has another hot take for us: Owning a home is the ‘WORST investment.’ Aye, cap’n! Cue the audible gasps, the frantic searching for renter’s insurance quotes, and maybe, just maybe, a reconsideration of that yurt lifestyle you saw on Instagram.
I mean, if the multi-family real estate aficionado himself says so, who are we mere mortals to disagree? He also casually drops Elon Musk and Warren Buffett into his argument. That’s like name-dropping Aristotle and Shakespeare during a high school debate on why TikTok should be considered a form of classic literature.
The Musk and Buffett Conundrum
Okay, let’s pull this apart for a moment. Musk is a man of such minimalist ethos that he’s forgoing houses for friend’s guest bedrooms—like a billionaire college student. Meanwhile, Buffett is the friendly neighborhood elder who’s been living in the same house for 65 years, probably writing his annual letters on a typewriter. Why? Because you don’t mess with a winning streak, that’s why.
Investment or Imprisonment?
Cardone argues that homes can’t grow your net worth like stocks, bonds, or investing in the next blockchain-powered, gluten-free, yoga retreat start-up. He points out, ever so subtly, that homeownership is a long-term sentence of property taxes, interest rates, and that never-ending existential question: “Why is my roof leaking again?”
But here’s the kicker: He regrets buying a house at 28 with a 30-year mortgage, not because the curtains clashed with the wallpaper, but because it was a financial “trap.”
Not Every Home is Created Equal
Buffett, on the other hand, loves his house. He even described it as one of the best investments he’s ever made, though, in classic Buffett understatement, not as good as his wedding rings. The home might not have been a cash cow, but it’s a memory palace. Let’s not also forget that the house he bought for a mere $31,500 in 1958 could now sell for around $1.2 million. Talk about long-term commitment!
Elon Musk opted to sell his real estate holdings, which was more than what most people hold in a lifetime. But we can’t forget, he relocated near a SpaceX development site, making it easier to, you know, plan those future Martian colonies or whatever billionaires do on a Tuesday.
It’s Not One Size Fits All, People!
So, what’s the verdict here? To house or not to house? Well, let’s put it this way: If you’re looking to match Warren Buffett’s modest lifestyle, or if you’re hoping that your property will skyrocket in value while you live there for more than half a century, then, by all means, go ahead!
And if you’re the tech mogul type who can’t be bothered with stationary walls and prefers rotating between friends’ homes like you’re auditioning for a reality TV show, that’s cool too.
The point is, whether or not owning a home is a terrible investment is not a universal truth. It depends on your financial goals, your lifestyle choices, and how tolerant you are of potentially awkward Thanksgiving dinners if you follow Cardone’s advice.
So, go ahead, buy that house, or don’t. Become the nomad you always dreamt of, or settle in and collect those memories. The point is, Cardone’s one-size-fits-all wisdom fits about as well as a pair of socks from the dollar store. Comfortable for some, but others might be left with cold feet.
Signing off until the next round of unsolicited financial advice hits the newsstands. Cheers! ?