Cardone Questions Kamala Harris's Housing Promise: 'We Haven't Built That Many Homes Since WWII'
Grant Cardone isn't buying Vice President Kamala Harris's latest housing promise and he's making it clear on social media. In a recent update on X (formerly Twitter), the real estate mogul called out Harris's bold plan to build three million homes in her first year as president. According to Cardone, the numbers just don't add up. “Kamala Harris promises to build 3M homes in America in her first year and reduce inflation but doesn't explain how,” he tweeted. He went on to breakdown the massive cost, estimated at $1.3 trillion and questioned who's going to foot the bill, asking, "Who funds it? Who builds? Where?"
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Cardone’s skepticism isn't just about the cost. He's also pointing out the sheer scale of Harris's promise. "We have not built that many homes EVER and the last time we got close was post-WWII," he said. For him, it's not just a question of money but logistics. In Cardone's view, promising to build three million homes is one thing, but completing it is another.
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Hue Chen, a real estate investor and operator, joined the conversation. He responded to Cardone's tweet, suggesting that taxes on the superrich could fund the project. “They said that the super rich will pay for it with taxes. They will also provide regulation cutting to entice developers,” Chen tweeted. He also proposed building smaller homes, around 1,200 square feet and focusing on condos or town houses. According to Chen, cutting regulations and focusing on opportunity zones might make Harris's plan more feasible. He even compared the U.S. to China, which built 15 million homes in a single year, saying, "China built 15 million in a year, we can too."
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But Cardone remains unconvinced. For him, it's not just about finding the money or reducing regulations. It's about whether the infrastructure is there to support such an ambitious plan. Cardone's tweet highlights the issue: Can the U.S. build three million homes in a year without major disruptions to the economy, labor force and supply chain?
Ultimately, Cardone's tweet points to a larger question. Harris's plan is ambitious, but can it happen? And if so, at what cost? While some, like Chen, remain optimistic, Cardone's skepticism echoes concerns from many in the real estate world who wonder if Harris's housing promise is simply too big to deliver.
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This article Cardone Questions Kamala Harris's Housing Promise: 'We Haven't Built That Many Homes Since WWII' originally appeared on Benzinga.com
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