‘I wouldn’t touch [them] with anybody’s money’: Grant Cardone says these two big US cities are some of the worst markets to be in right now for real estate investors — here’s why

June 23, 2023 – Renowned real estate investor and entrepreneur Grant Cardone has identified two major U.S. cities as the current worst markets for property investors, which he recommends avoiding. His survey is based on the current and projected economic situations, property market trends, and relevant factors such as population growth vs. stagnation and return on investments.

Unlucrative Investment Destinations

Cardone, a respected figure in the real estate industry with over two decades of investment experience, highlighted New York City and San Francisco as the least lucrative markets for investment. The two cities, despite having a reputation for robust real estate markets, now present a puzzling paradox for investors.

The Case of New York

A significant influx of outmigration, coupled with increasing property taxes and a wavering job market, has led to a slump in NYC’s property prices. High vacancies and low rents add to investors’ troubles, making the Big Apple a not-so-desirable destination for real estate investments.

The Trouble with San Francisco

The San Francisco Bay Area, once a magnet for property investors, is witnessing a similar slump. Owing to the tech industry’s shift towards remote working, the city is experiencing a drop in rental income. In addition, the city’s high cost of living and property prices, stringent regulatory environment, and socio-political climate have reportedly added to the downslide, dissuading potential investors.

Cardone’s Takeaway

“I wouldn’t touch [New York or San Francisco] with anybody’s money,” says Cardone, summarizing his sentiments about the two cities. He believes the downward trend in these cities can act as a guide for investors, reminding them to continually evaluate their investment strategies and stay flexible in volatile markets.

Apart from pinpointing where not to invest, Cardone also encouraged investors to eye smaller cities with burgeoning growth. He believes these emerging markets could potentially offer better return on investments.

Final Words

While the real estate mogul’s predictions are worth considering, investment is a highly personal decision. Factors such as risk tolerance, long-term goals, and individual financial situations should all play roles in determining where to direct funds. However, insight from experts such as Cardone often provide useful guidance and trading strategies to consider.

Real Estate

Investment