The Rise of the Renter Nation
Flexibility, freedom, and a new way to build wealth
Why Grant Cardone Thinks America Is Becoming a Renter Nation
Grant Cardone, the outspoken real estate mogul and investor, has long made headlines for his bold takes on money, housing, and the economy. And now, he’s sounding the alarm on a shift that’s reshaping how Americans live: the rise of the renter nation.
According to Cardone, more people are choosing to rent instead of buy — and it’s not just about affordability. It’s about lifestyle, mobility, and economic uncertainty.
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Why Americans Are Choosing Flexibility Over 30-Year Commitments
"Many people don't want to commit to 30 years. They're on the move," Cardone said. He sees today’s renters as part of a larger trend — one that’s tied to changing values and financial realities.
In an age where remote work and relocation are easier than ever, more people want freedom, not a mortgage. Cardone himself has lived in Louisiana, San Diego, Los Angeles, and now Miami. He believes that once you get too comfortable in a place — once you know everyone and everything feels routine — it’s time to move.
Renting gives people that flexibility.
A Recession That Few Called by Its Name
Cardone believes the economic backdrop is making it even harder for Americans to become homeowners. He argues that the country went through what he calls a “rolling recession” under the Biden administration — a downturn that wasn’t widely acknowledged because the definition of a recession shifted.
He points to back-to-back quarters of declining GDP and emphasizes that up to 45% of new jobs during that time were government positions. That, he says, masked the true state of the economy.
During a recession, Cardone notes, fewer people buy homes. Mortgage approvals get tighter, costs keep rising, and down payments feel out of reach. Many are hoping home prices will fall — but until then, they’re staying renters.
Sky-High Prices Are Freezing Out Buyers
In places like California, Cardone says, fewer than 16% of residents own their homes. Why? Because homes cost too much, and mortgages are harder to qualify for than ever — especially when you’re talking about million-dollar listings.
Even if you do manage to buy, Cardone warns, the costs don’t stop there. “Owning a home doesn’t mean you’re done paying,” he often reminds his followers. There are still property taxes, insurance, repairs, and other ongoing expenses.
And from an investment standpoint? Cardone doesn’t believe a primary residence is the best use of capital.
Your House Isn’t an Investment (According to Cardone)
Cardone has repeatedly said your home is not an investment — it’s a liability. While traditional wisdom encourages buying a home and building equity, Cardone argues that money could be better used elsewhere.
He believes that investing in the stock market or real estate income properties may yield stronger long-term returns than tying up capital in a home you live in.
Even after paying off a mortgage, homeowners still face financial burdens. That’s why many younger Americans with money are holding off on buying, choosing to rent and invest instead.
The Bigger Picture: Rising Debt, Shrinking Buying Power
Cardone also links this shift to broader financial issues. He criticizes the Biden administration for adding $8.4 trillion to the national debt, saying that rising debt levels lead to decreased purchasing power. As the dollar weakens, everything — including housing — becomes more expensive.
So, when you combine expensive real estate, economic instability, and lifestyle shifts, it’s no surprise that renting feels like the smarter option for many.
Renting Isn’t Settling — It’s Strategic
Grant Cardone’s take may be controversial, but it reflects a very real trend. For millions of Americans, renting isn’t just a temporary fallback — it’s a strategic decision. Whether it’s about staying mobile, avoiding massive debt, or putting money into higher-yield investments, renting gives people more options and fewer obligations.
As the landscape of work, life, and money continues to evolve, so too does the American dream. And for many, that dream no longer includes a white picket fence — it’s about freedom, flexibility, and financial power.