“That’s not going to work” When Shark Tank investor Kevin O’Leary evaluated the $40 billion house construction plan 

Shark Tank investor, Kevin O'Leary, has shared his life lessons, knowledge, and wisdom regarding the business world, politics, and finances. He is a business expert and founder of O'Leary Financial Group which includes his other ventures such as O'Shares Investment Advisers, O'Leary Ventures, and O'Leary Fine Wines.

As per the August 20, 2024, Fortune article, Shark Tank investor Kevin O'Leary appeared on CNN and shared his thoughts regarding Kamala's proposed plans to reduce inflation, reduce food prices, and solve the housing crisis problem in America.

O'Leary disapproved of the housing plan which required $40 billion in house funding and $25,000 in grants toward down payment assistance for the new buyers. O'Leary stated the price of the houses would increase and would "cause inflation" as handing people $25,000 in a "constrained market" would have the opposite effect.

O'Leary continued by mentioning why he was against the plan as it was ineffective in his eyes. While giving the viewers an example of Cuba and North Korea, he said :

“They tried that in Venezuela, Cuba, North Korea, the USSR. No, that’s not going to work.”

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Shark Tank investor Mr. Wonderful explained why he was against the housing construction plan

Back in 2024, the Shark Tank investor criticized Kamala Harris' plan to make daily prices more affordable for average Americans by using a federal ban on price gouging on grocery and food items. According to Kevin O'Leary, this strategy to reduce inflation wasn't going to work.

He also discussed the house construction plan which aimed at building 3 million houses in America through a $40 billion house funding and $25,000 grants toward down payment assistance for the new buyers. As per O'Leary, this plan was ineffective as it would "cause inflation" rather than decrease it. The Shark Tank investor further elaborated:

“When you give $25,000 to anybody in a constrained market, you cause inflation. So if there’s three houses for sale on the street and everybody bidding on it gets another $25,000, all of that attributes to the seller, and you cause the price of the house to go up because there’s no supply.”

Another legislation that Kamala proposed was for investors to flip the houses at higher prices after buying multiple homes together. Mr. Wonderful revealed that the proposal could not be practically implemented as real estate is "not controlled by federal mandate." He implied that the housing problem cannot be solved by building "3 million houses." O'Leary continued:

"Everybody knows in real estate…that it's not controlled by federal mandate. Housing is state by state. She can do nothing to solve that problem. There’s no way she’s building 3 million houses. Which state is going to give her that mandate?”

Mr. Wonderful also known as O'Leary has voiced his concerns regarding the political atmosphere of America. He is active on his social media accounts where he shares pieces of advice. Apart from being a successful business owner and investor in the ABC series, Kevin is a best-selling author of two of his books, Cold Hard Truth on Men, Women and Money and Cold Hard Truth on Family, Kids and Money.

Follow him on his official Instagram account to get more insight into Kevin O'Leary's opinions, guidance, and thoughts regarding financial matters. Shark Tank episodes air on ABC every week on Fridays at 8 p.m. ET.