Home Prices Will Drop by 50% - Says Harry S. Dent, JR, Best Selling Author and HBS Baker Scholar
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- Опубліковано 5 кві 2024
- Home prices have never been higher and prices may fall 50%, says best selling Author and Harvard Business School, Baker Scholar, Harry S. Dent, JR.
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My screens went out due to a brief power failure, but thankfully no interruptions 😅
THIS IS USELESS INFO
Serious question..you said economic expert..he has been wrong time after time after time after time after time..at some point he has to stop being an expert surely 🤷♂️
We like Harry, too bad he called gold wrong.😮
I'll bet you every dollar on my bank account it won't lol. 🤡🤡🤡
Brilliant Program Brilliant Guest. Keep Going. 👍👍👍
Harry predicted the gold to fall down to 250 dollar per oz but it instead went up to 2,300 dollar. Harry's predictions are useless.
So long china short india is what Gary is saying.
USELESS INFO
I predict solar eclipse on Monday. I guarantee it! 😳
Yeah. He made similar predictions to this video back in 2017. ua-cam.com/video/wuqaBxUJZ7Q/v-deo.html That's 7+ years ago. Back then you could buy a home here in Ventura County for $500K, that today would be worth north of $900K. That's what he is doing to his listeners; ruining their lives.
@@wreckimI I just checked this out. Good lord. This guy is a scum bag.
I’m 1 year older than Harry . I was struck by his claim that Henry Ford payed his workers $5 an hour . That’s not true it was $5 a day . As someone who worked as a tradesman in the 1969 , not a college boy , I know that $200 a week was enough to have a modestly equipped new full size car a 3 bedroom ranch and buy your lunch at a deli on a daily basis - and your wife didn’t have to work . For real - no BS
This is true. I recall that in 1968 my father made $200 per week in Dayton, Ohio. That supported all of us 3 kids and our stay at home mom.
@@kikilynn1167
I know my dad didn't make any more than that in 68... Bought a house, had a nice new car , mom didn't work .. and the best for him was that income kept climbing year after year .. 😊
Now we make around 80K/year to push paper digitally and it's in a clean environment not some bullshit factory full of rough necks like your Dad.
Inflation has killed the American dream .
Yep that was my parents . Bought their house for 30k at 20 year mortgage.. I think their interest rate was like 10% but not sure.. also brand new car was just over 2k ..
I think their mortgage was around 200 max 250 .. my dad probably took home about 1k a month max
I see I posted here already ...oops. 🤣
Where the hell is the federal government that should stop corporations from buying homes.
federal govt is backing the mortgages and loaning money to banks to loan to corporations to buy more homes
Exactly! TikTok sanctions, but no one sees this but us.
They're part of it. That's the problem. Look at the amount of properties Blackrock alone owns. Look how much money they send to these people in the government. It doesn't stop because the current "leaders" can be bought.
Snug in a system that legally allows "lobbyists" to buy up politicians. When it's cheaper for the rich to bribe elected representatives to cut taxes on the rich than it is to actually pay taxes like honest people, honest people are screwed.
House prices aren't going to drop. Any time interest rates go up and ordinary families lose their homes, the people who have investments instead of mortgages laugh and buy a few more houses to rent out - because high interest rates mean they have more income from those investments. Then when interest rates drop, they're not worried because they have rental income from all those houses they bought.
The rich never lose.
Yeah the federal gov't has a great track record!
I live in Hawaii. There was a recession in Japan in 1995 and it caused our real estate to go down by 50% overnight. I bought after that and got a great deal. It took 8 years for it to come back up. These things REALLY happen.
How fast did it happen? I got a deal in 2008 and 2012, but just by pure coincidence, so idk how long it should FEEL like to crash
He says the Fed doesn't know what they're doing... again let's pretend that they're incompetent. They know exactly what they are doing.
That's what people fail to realize. The Fed knows exactly what they're doing and all of this is on purpose.
They know what they are doing. It's called wiping out generational wealth
Strange how all incompetence ends with the same result. The Rich getting richer and the poor getting poorer.
they know exactly what they are doing.
Exactly it's all planned . Consolidation of power
This guy was calling for sub $1000 gold right before it went from $1650 to $2300. Take what he says with a grain of salt.
I'd say with a salt mine....
Vert de ferk
Ultimately Mr. Dent is correct. We are inches away from a currency reset🌋🌋🌋🌋
@@joshlidowdie24 which would make gold moonshot, not go sub $1000
Everyone has to learn from failures - he clearly said that. He learned now why gold did cave - if still saying what he says more like it will happen.
Even at 50% drop, house's are still too expensive, in Ontario avg house is $500,000, Avg wage is floating around $30K - how can you save for a down payment?, New cars $40K its unsustainable.
Harry Dent has been telling us about the crash since I was 18 years old, now I'm 45. 😮
lol. 😂
exactly. I first heard of him when I was around 20 years old. I've made millions, lost millions inbetween that time. I'm 37 now.
Covid was bad for me. Still recovering
I guess if you stick to the "crash" theory, you might be right at some point years down the road.
Theres been 2 or 3 crashes in that time period doofus
So what? Go crazy and buy stocks and houses. Go for it ...
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless." - Thomas Jefferson
yep, had to write this one down....
They already own us
America is not a country America is a continent of 35 countries in total
The US government is actually using the name of the continent. We are US citizens and citizens of the United States. Everyone in North America, Central America, South America, the Americas and the American continent is an American like Asia are Asians, Africa are Africans and Europe are Europeans. What happened first? The United States of America or the American continent? The United States of America became a nation on the date of July 4th of 1776 and the whole entire continent was already named America after Amerigo Vespucci in the year 1507 that was 269 years difference way before the United States of America became a nation. Europe has 50 countries, Asia has 51 countries, Africa has 54 countries, Oceania has 14 countries and America is not a country America is a continent of 35 countries in total. Why are people not educated about America? ............The reason why people come here to the United States from all over the world is because the US government goes to their countries and controls and manipulates their governments. The US government and its allies aka puppets invade small countries 10 or more against 1 small country not even bigger than Texas. Both the Democrats and the Republicans are the same snake with two evil heads. The US government is a two face and the number 1 terrorist in the world. The US government invades, kills, destroys, divides, controls, manipulates and steals resources from small countries. .............Homelessness is a choice of life. Life is beautiful but no one said life is easy. Many people have too many excuses in life, more excuses than the exits of freeway 101 located in California. Many people are looking for work praying to God not to find a job. People just want handouts. The more money you give them the more they want. Whoever wants an easy life in life will always have issues, struggle and drama in life but whoever makes a sacrifice in a good way in life will make a benefit in life.
We are US citizens and citizens of the United States
In California the average age of first-time homeowners is 49 years old. I'm not a professional economist but I know a bubble when I see one. Just look at Las Vegas real-estate market, 700,000 for 3bed 3 bath home when the median income in the area is 66k per year is the text book definition of a bubble. THE END
Dream on. Supply and demand. Don’t forget to tip your landlord.
@@Brain_Drainman tip them for what. Did you read what you responded to??? The average income is about 45k with the casino workers . Landlords won’t have renters to afford the rent most will live with family who own homes. Rent is now cheaper than a mortgage which is backwards
Vegas has been home to me since 1996 . Average salary is 45k-48k
The ides of 2008-2012 are slowing closing in , as people prognosticated prior, impossible for RE to fall….. it’s true until the FED has massive inflation to deal with and cannot backstop the markets any longer. It’s fully baked in.
That's so bad when economic cycles don't follow human cycles. It's unhealthy.
If housing values drop by 50%, I sure hope property taxes also go down 50%.
Some people have been saying the housing market is going to crash for the past 30 years...LOL..As always, the issue is supply and demand. So, at any location where more people are leaving than coming in, the housing prices will go down. The rest is just BS. More people are coming to America than leaving. And if people cannot afford to buy, they have to rent, which means the investors would buy the properties and collect rent.
The housing market did crash twice in the last 30 years
@@9sgordon But these guys are predicting housing market crash every 30 days...!!!....LOL
Gold was going to $600 according to him! LOL! Harry needs to retire and give up predictions!!!
damn right, I am getting tired of this guy
House prices going up and up as we speak. It is not coming down at all ever. Thus, rent will never get cheaper either. Harry knows nothing.
surprise he still around giving prediction.
I watch a lot of interviews and read a lot of books. I keep track of who has been right A LOT, and who has been wrong A LOT. Dent is a guy I simply don’t have any faith in anymore.
his channel attracts lot of viewers and doing good job to generate good income, why retire?
In his 2011 book "The Great Crash Ahead" he predicted that the DOW then at 10K would fall to below 5K. It's now almost 40K. Not just wrong, but spectacularly wrong!
His predictions about demographics are always based on 0 immigration. He would be right if that were true, but it's not true, so he ends up being wrong all the time.
The Canadian versions of Harry Dent are even more hilarious. Canada's fertility rate fell below replacement in the early 1970s, so we should be seeing deflation any time now. That hasn't happened because immigration is waaaaaay higher than the natural population decline. Immigration is about 3% per year, which is insanely high population growth. This is why housing costs skyrocket and a basic bitch house is $1.5M. This is also why stocks go up in Canada despite GDP/capita falling for the last 6 quarters and the PPP being the same now as it was in 2014 (we've been in a depression for a full decade).
Absolutely! He said the Australian housing market was going to crash 15 years ago! A huge WRONG!
You can’t predict a manipulated and absolutely fake market. His predictions were supposed to come true. If the FED was not intervene in everything. “END THE FED”
I think there is a misleading factor or left out factor and that is the re-evaluation of real estate and housing. Here in North Carolina property is reevaluated by law every 8 years but because the increase would be astronomical for the property owner counties reevaluate every 4 years did Kobe notwithstanding value of my property increased over $100,000 one year 2022 to 2023 . After appealing that assessment the appraiser and I talked to him twice, and also notwithstanding comp values as the way they determine and assess property values he claimed a huge mistake was made in the way they calculated cost per square foot. It was greatly underestimated in 2022. So they went back and recalculated everybody's property it came up with this new figure. While County Commissioners reduce the property tax rate to compensate homeowners for this astronomical increase, it does not take into account however the fact of the matter is homeowners insurance is based on a rebuilt building cost which base on increasing property values becomes astronomical. And now my escrow which I have increased on my own because I could see this coming has now been recalculated and it's more than what I have been adding to it. I was adding $60 a month to it and now it will be a hundred dollars from the base I was paying minus my additional $60 -65 per month.. my budget is already very very tight and I live rather frugally I've always been a fiscal conservative and I have not received my homeowners insurance bill yet this year as I have called twice and it still has not been generated okay so I may be in for another big shock even though I am with a non-profit organization that underwrites my insurance and I get a very good discount with it. And as a senior I also get a very good discount on my property taxes. However I would not be able to live here without those breaks and a few more benefits that I get and I am still working part-time seasonal so in the winter months when I have no extra income I have to dip into my savings which is not very much either. So this guy really isn't painting the whole picture. I also just heard the other day inflation is going up faster than last year at this time. It's over 3.5% now based on NPR news reports and of course in 2022 it jumped to like 8.9% play my biggest argument with the federal government is how Cola is determined and it is not accurate for my viewpoint BTW I have studied economics and I have taught what we used to call home economics and now is considered family and consumer Sciences. But in my view the basket of goodies used to determine cost of living increases is completely out of line and not the right mix.
I remember that.
It is so relieved, Mr. Harry understood and spoke up with the whole picture of what is really going on and going to happen.
Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 17k in last month 2024.
Wow that's huge, how do you make that
much monthly?
Honestly speaking.... I will continue to trade and stick to Sylvia daily analysis and guides as long as it works well for me.
Very profound! Mrs. Sylvia Nicolas has this great force like the ocean. I have never seen any of her clients complain of loss.🌊❤
The first time we had tried, we invested $4,000 and after a week we received $16,400. That really helped us a lot to pay our bills. Cheers from the North 🇨🇦
that's nice She makes you that much! please is there a way to reach her services, I work 3 jobs and trying to pay off my debts for a while now!! Please help me.
I can’t wait til house prices drop!
That’s exactly why they won’t
Hopefully you have cash because you aint getting a mortgage…banks will be petrified of loaning in case prices are still dropping..
Good luck 😂
@@sb27500They have to drop, when a seller NEEDS to sell, and the buyers cannot afford to buy. That's when we see discounts!!! History repeats itself.
2008 will never happen again. @@oneeleven9832
Been listening to Harry since 2020. The biggest crash in history is always a few months away in his eyes. I’m glad I didn’t listen to him.
In fairness, Covid stimulus an the Trillions pushed the next downturn forward by 2-3 years. This bubble cannot last.. houses @ 5-7 times average salaries...unsustainable.
"Been listening to him since 2020.……..i'm glad I didn't listen to him. " Maybe update that last part to "glad I didn't believe him."
@@carnivalgods4573 There are worse mistakes; like actually listening to Harry Dent in the head.
@@wreckim All I can say is he does seem rather high strung.
Lots of people waiting for everything to go down in price, I don’t think that’s how it works.
Harry Dent is always great to hear from. Fascinating man, great mind.
I'm favoured, $35k every week! I can now give back to the locals in my community and also support God's work and the church. God bless America..
That's awesome, which source/platform did you use to earn such huge sum of money?
As I know it's possible, I'd appreciate it if you showed me how to do it.
Mrs Annabelle Hartfield service made me who I am today and God is the master planner
I know I’m blessed if not I wouldn't have met someone who is as spectacular as Mrs Annabelle Hartfield
I keep hearing a lot about Mrs Annabelle Hartfield, must be really good
Millennial here. Yes, Harry, we know why the economy sucks. It's because the fed and Federal government won't allow anything to fail to find real price discovery and we're now used to it as a society. Enough people have been bribed with 3% mortgages and inexpensive monthly payments for the rest of their lives.
Eventually, things will level out, but it could still be several years away. Builders do not leave money on the table...they WILL respond to demand wherever it is, and they already are. At some point, they will make enough housing to meet the current demand, especially if/when Trump shuts down the border. But, it probably means that for the next decade or so, young people who want to have a shot at a decent life will need to move to the state and cities that allow and promote building.
There are no inexpensive monthly mortgage payments, definitely not in California, New York, or Florida where have you been living for the past 15 years under a rock!!
@@Alfamale-xs4evI live 5 miles outside of Boston. My home is worth 1.2 million. The mortgage I have is at 2.8%. I bought it in 2010 for 210k. Refinanced 150k when rates were ridiculously low. My mortgage is a 15 year. It costs me 1183 a month. However property taxes when I bought the place were 2800$ a year. Now the taxes are 10200. Which I pay quarterly. My home owners insurance when I bought the home were 87$ a month. That has now increased to 210$ a month. Brining my total monthly cost for housing to 2251. If I bought the same house today I would have to put down 200k and my monthly payment would be 7600$ a month. Buying is always better than renting as insurance and tax costs will always be pushed off on the renter.
Totally enjoyed Hary's presentation. He means every word he speaks from his enormous knowledge base. Great show. By the way, I'm 88 in September, and still optimistic for America.
Harry Dent earned my respect back in 2018 when the markets were in freefall towards the end of the year. Every bear was getting exited, but Harry did an "emergency" podcast where he told his followers that he was totally sure that this was definitively NOT the big crash and that it was just a "false alarm". He was totally right on that one. But ever since, Dent has been so wrong, for so long, that it makes one wonder if credit cycles as we know them have been fully eradicated and that the one and only thing that matters now is the incessant printing of money. If that's the case, then we can kiss the middle class goodbye and the new feudalism we all see forming, is just going to get more and more pronounced over time. Basically, France in the late 1700's.
Nothing's dropping but the value of the dollar.
People buy homes with dollars. lol!
IT NEEDS TO DROP BY MORE
😳
@@SachsRealty In certain areas, yes. Like where I live. $250k for a falling down dump. Small ranch >$500K.
Blackrock agrees
Well, It's about time! I've been living like a rat, saving money since 2008, wait'n for the BIG ONE! hahaha I'm get'n a mansion this time.
There are people theorizing a drop back to the 2012 lows. Their numbers look pretty good for me, but we'll see what happens thanks to all that printing.
I've already seen drops by 50 percent in the very rural areas I'm looking to move to. I think there's still plenty of room to fall though for those markets. Lots of stuff,even with the cuts, stays on for YEARS there.
Harry said years ago that houses would drop 50% but since they have gone up 100%. So if they go down 50% now it’s a push. A broken clock is right twice a day.
He has been wrong for the last 10 years
OMG harry dent, really? He has been wrong every time. He said by last June market would crash and he was betting everything.
If prices fall Blackrock is there to buy up inventory and rent it to migrants
Terrible renters don’t take care of things, black rock, can have them
Rent?……most likely will be a gov freebie like section 8 for these creatures
You guys remind me of my teen buddies, as we're all getting drunk ready to dive into the river. Get real. You're going to let Blackrock snap up good deals again as they come up. Why not at least be a little wise and buy a home when you can't lose?
And rent to us too!!!! BLACKROCKS PLAN is to own ALL homes eventually. In the New World Order, 99.99% of us will own nothing and be happy. Say goodbye to car ownweship and everything else. Once CBDCs are here its game over. Then comes Social credit scores, carbon footprint monitoring, Universal Basic Income, Digital IDs, Vax Passports and never ending jabs, 15 minute cities, fake meat and bugs. Also....say goodbye to all leisure flying for us useless eaters. Digital Communism/NWO will be a living hell for us all.
Rent??? This shit administration will probably pay for it.... our government is treasonous and corrupt
I hope this crazy home sales come down so I can buy a house for the first time.
Black rock has cash guess whose getting the deals.
keep watching channels like this will give you comfort. like they said, if there is nothing you can do then just hope.
@@deebrown7160They can’t buy them all bro
Ray Dalio did a video on economic cycles and said humans have been printing money when the system is starting to fail from way back to Roman times. We all know what happened there. We know a big shift is coming. Dalio says the only way to protect ourselves individually is to make sure you have more money coming in than going out.
I love it when he gets all excited and his voice gets real high...
I left after 10 seconds when I found out you’re interviewing the boy who cried Wolf or the boy who scream fire in the theater. This guy is thrown up so much crap on the wall that after 1 million pieces of crap one of them is
Bound to stick.
Exactly. Watching this is a waste of minutes of our life we can’t get back. 😂
He uses the term third world. Third world doesn't mean anything it's NOT a metric. Anyone can say any county is third world. Correct term is underdeveloped developing developed and over developed.
He supposedly knows metrics and indicators but uses the most unfounded terms: first word and third world
Bye...
@@greatestever9616 Travel outside your borders and you might see what he is referring to.
The problem with predictions are that timing is the most important part and it's nearly impossible to pin down.
I'd bet that inflation will destroy the dollar as it's already doing much more than assets will go down.
I would love to see house prices fall 50 percent, but that won’t happen given the cumulative inflation we’ve experienced since 2020. House prices can fall somewhat, but the corrupt officials in DC will do everything in their power to prevent that. And they have a lot of power.
I'm terms of Gold it will happen.
They have 'control' and our tax $$ and they want more and more and more.
To take advantge of that hypothetical, one would need to be sitting on loads of cash that has no current job in equities or bonds or other vehicles. I would buy in if houses went down 50% (though I've been working for 15 years to move abroad and have done it). I don't see wanting to live in the US for the next 10+ years at least.
The housing market will crash in 2073. Harry will have “I knew I was right” on his grave stone. He is a moron.
And wfh has changed the whole housing climate. Almost a great equalizer for average home prices through the US. Prices are not that different I'm most places now.
In Canada prices won’t crash for houses because we have a house crisis.
Importing about 1m immigrants per year and the growing local population makes a shortage and price doesn’t and will not drop. It’s not a fix for at least 10 years or more
The only problem is that most immigrants are smart and math has no fillings! The house price may drop even more than 50% to get close to the real value!
Been in and around the home construction Biz for 42 years.
Owning a home for %90 of people is a LOSS. It is a false scam.
Factor this in your investment.
Purchase price.
Property taxes.
Loan Interest.
Maintenence. Wear & deterioration.
Updates after 10 years.
Broker sales fees.
Insurance fees.
Add all these factors then sell your home .
Find something better to call a investment. A few get lucky.
Treat your home, as a you would a stock. Time to buy, and times to sell.
Dent said stocks would fall 90% over coming year. He said that coincidently one year ago
1 year ago? You must be a newbie. He’s been saying that for over a decade.
can you quote/link your reference?
I ate the least amount of potatoe chips starting in my 40s. Lol. Guess im ahead of the curve
Never been a potato chip eater, thankfully.
We are failing at failing. We need to accept it when it happens. The more we resist it, the more it eventually costs us.
Excellent platform 😊 Thank you!
There are also winners in a housing down turn. I bought a brand new home in Fl , an REO that was built for 265,000 and bought it for 83, 000. Paid cash. It had all appliances in it, sprinkler system, 3 walk in closets.
I paid 88k for a newer home in Atlanta last crash, there was so much inventory it was crazy new homes and newer homes under 3 years old. I bought 3 of them. I still own them today
I was lucky. I bought a foreclosure for $32k in 2016. I put $40k into it for new kitchen, 2 new baths, hardwood throughout, new roof, new appliances, new windows, upgraded electric and now I have a $350k house. Feel blessed that even if houses go down 50% I will still have a profit.
Yeah, but you don't mention the high cost of home insurance.? Due to ridiculous increases in HOA costs and single family home insurance costs, people are walking away from their properties in Florida and moving elsewhere.
In my opinion but a house or apartment with HOA is a reap off because are keeping raising HOA every year
Fix-buy
Dude needs to calm down a little bit…no one was even arguing with him 😂
😂
I wonder if building materials dropped prices by 50% is well ?
No way anything will drop down signafically if money printer is on all the time.
People want to own their place in case everything collapses which it might.
I bought Harry's first book in 1988. He was right then, and continued to be right ever since. Indeed, as one who had owned five homes over 40 years, I have lived through two truths, that real estate can go way up and way down, but it rakes at least 10 years, perhaps 20 for the swings to occur because it's a mammoth-sized market to turn...but it does. Unless you live in an exceptional home and neighborhood where the 1% congregate, you will experience swings of up to 50% in home values. These large price resets occur because incomes cannot keep up with excessive government spending, accelerating taxation, and over- regulation that chokes investment and employment. Big government always kills our economy. ALWAYS.
That's not a book, those are cycles.
@@wreckim Exactly. I had a boss once who said he wanted to start two newsletters. One newsletter would predict that gold's price was going to increase, the other newsletter would predict that gold's price would fall. One of the newsletters would be right, and have some loyal subscribers since the soothsayer was correct!
I don’t think anyone could have ever said it any better. Failure is absolutely necessary if no one‘s allowed to fail, and everyone gets a trophy, and all the bad ideas and all the innovation that wasn’t truly there to actually innovate will do nothing but hold everyone back and bogged down the whole entire economy.
Todd asked the best question, which is what will cause housing to drop 50%. The answer was basically prices start to drop and causes a doom loop. Well, yeah, but what will cause prices to start to drop? Unemployment, businesses going out of business? I guess we'll never know.
we will know soon
Bubbles don't always need a catalyst. They usually collapse under their own weight. House prices peaked in most cities in may/june 2022. Don't believe me, google FRED MSPUS. Nothing caused that peak, it just worked until it didn't. History says prices should descent for at least another four years, but the money printer is proving far more mighty than the "old-fashioned" credit cycle.
I thought the same thing as you in 2005. Just wait, it’s coming.
The only thing that can make prices drop is more houses for sale.
@@billfelsher5159 There's already a lot more inventory for sale this year than last, and there's absolutely no reason to believe that inventory levels won't ever return to pre-pandemic levels. In fact, with the aging and expiry of the Boomer generation, there's probably a bigger chance of an upcoming inventory glut than of a continued shortage within this decade.
Why does anybody even give this guy any time? He is only right 2-3 years behind schedule and then less than 10% of the time. And only 95% off the mark!!!
Home prices to drop 50%? The guy is out of his mind.
At the end of the day houses are way over priced for the average person. It may remain propped up for a while but, eventually they will come back to reality. People can only pay so much.
not if they start issuing 50 or 70 yr loans, which they probably will
May as well rent then.
@@johnjohnston5437no, because outside of taxes and insurance your payment stays the same. If you are renting you will be paying the increase in taxes and insurance and the owner has to make a profit to maintain the property so renting will always or should be a second option.
The economy isnt slowing down. The fed has pulled the emergency brakes on the train and now the economy is grinding to a hault! You can feel it in the air, on LinkedIn, social media, conversations with people looking for jobs. Housing unfortunately is the last thing yet to hit its massive down turn. There are too many levers for the Government to pull to kick the can down the road artificially.
Disagree. We are going to crash, yes, but it's going to be a crash up. Everything is going to continue to go up while the value of the dollar decreases.
Welcome to hyperinflation
Oh yes. There are so many empty homes already everywhere. Builders are building like there's no problem. Loans are everywhere, government is just going crazy loaning out cash to anyone! THOSE WERE THE MID 2000s. None of that is happening right now.
It's temporary until the market gets the signal.
I expect in 12 months hiring to start firing up again. At this moment no one is able to predict anything. So it's especially tough on junior roles because companies need ready-made to come in and hit the ground running.
I'm in the HVAC business, one of my wholesalers told me housing starts in 5 states are slow, something is in the air.
Thank you, really interesting!!
Harry keeps predicting crash until he gets it right 🤣he is a Fed propaganda tool so people don't rush to buy property
Don't overestimate Harry...He is just a tool.
They don’t need Harry , when they have Jerome Powell, former Fed pres Yellen telling Americans that inflation is transitory due to pandemic supply chain interruptions , she was telling Americans during the GFC that housing was stabile. Nothing to see. you all know they protect their hind asses and agenda. Certainly not the American people as a whole.
They don’t need Harry , when they have Jerome Powell and Janet Yellen former FED pres prognosticating that the inflation was transitory due to pandemic supply chain interruptions, Yellen was proclaiming housing was stabile during the GFC. Their in house propaganda dept doesn’t need any additions
Not true , Jerome and Janet have that propaganda dept well in hand. Forget about it
Nice to see one comment was permitted to post without the UA-cam censor police invoking their 1st amendment interpretation. they are a private company so they shape the narrative as they choose. nothing written that was posted was insulting , defamatory, rude , or crude. It’s 2024 UA-cam , your degenerating into a totalitarian mindset
Harry is correct. People have no idea how bad things will get and for how long they will last. That's the key, the length of the pain and suffering. It'll be long enough to affect most peoples retirement.
No matter how you look at everything on this Earth, it is unsustainable, it cannot last.
It’s hard to be more wrong than Harry Dent. He’s been calling for this downtown for the last 30 years straight.
I remember when he originally said real estate would peak in 2004 . . . he now says he predicted it would peak in 2007 . . . I think he's fudging history here.
He sure is!!! 😐😐😐😐😐
I paid cash for my last house in Bend, Oregon for less than 50% of what it was a couple years before. Then I sold it for more than 100% of what I paid for it in 2020. Now I have enough extra cash to buy a 2nd house, or just land. I'm just waiting for prices to drop again.
Cool story bro! Changed my life…
good timing
Keep on waiting lol 😂
Don't wait too long especially for a 50 percentage crash. .mostly likely won't happen .
back then there was a lot of 2nd homes so market crashed hard. Probably won't happen in Bend again with so many permanent residents. Most people haven't used debt to buy 2nd homes and nice cars - now they are leveraging to pay for food and gas.
That first 13.5 minutes was amazing!!!! Great interview! Please have him back on.
Things are very messed up. Our home would sell for about $280K right now, but according to our insurance company and current price per square foot to build a new home, would cost $1.1 Million to rebuild. Its only a 20 year old home.
Lmao get out of Detroit. That’s not a normal situation in the US right now
"Inflation is coming down, employment is still strong and real estate and stocks are still at all-time highs. We've achieved the soft landing!"
- multiple news articles in late 2007.
That is hilarious!! lol lol lol Soft landing.
Inflation rate of increase has slowed down but it’s still increasing month after month on top of the 20% boom it did a year ago
Have enough in your HYSA or bonds to cover your expenses for 2 years, keep the rest invested in the index forever (maybe some real estate and a BTC etf)
Average bear lasts 18 months. Look at the historicals, it’s been the best way to go for a hundred years and it still is.
Harry makes a lot of sense. On the flip side; IMO, the dynamics of the situation are complex and hard to quantitatively model to the point of predicting exactly (on quarterly intervals) when these events will occur. Indicators are just that, indicators. How far do the indicators have to build before they tip "the scales?" That's the $64 question.
There's a lot of wild cards. AND, a lot of people "painting" scenarios. BUT, I'm reminded of the old adage "What ever goes up, must come down."
My prediction is the housing will bust when Trump wins again unfortunately like the planeddemic.
Brilliant Demographics, Thx
Harry may be wrong on timing but when this hits the wall and can cant be kicked no more this will be bad. Like your neighbor trys to kill you for a crunch bar bad!
It's getting bad crunch bars are nasty
@@deebrown7160 I think Hershey's Krackel is better than Nestle's Crunch.
My cousin sold his house in 2020 on the advice of men like Harry Dent waiting for the "crash." He regrets selling it.
Great video thank you!
“They can print money out of thin air so hold dollars and dollar denominated bonds” ok Harry lol
Short term US government bonds - treasury's 3 to 9 months almost 5 % interest.
@@rogerburn5132 those will be great when CPI returns to +8%
“Expert” are you serious..He couldn’t predict yesterday’s weather.
Good to hear the realty. 🎯
Great open eye interview. Great to be subscribed because it provides great information.
Mr Sachs, you’re losing any remaining credibility of yours by inviting and listening to Harry Dent. You must know that.
50% in two years? That will make 2007 a walk in the park.
It will make the depression look like a walk in the park... then it was a ~38% decline in home prices.
It was about 50-60% off when I bought 2008 in Atlanta. People still didn't buy at this low price cuz rents were 700-1000$ for a 4 bedroom home.
@deebrown7160 The worst year we had in the great recession in terms of national house price decline was 9% in one year. One little town in the middle of Georgia means nothing. There is a neighborhood where I live where housing is currently down, like 30%, yet the county as a whole is up 6%. Unless you can afford multiple millions worth of housing that town that is down 30% means nothing to you.
It's just a problem when there are hundreds of thousands of little towns down more than 30% and there are no jobs
@user-os3qm3nb2k it is not a problem if there are other towns that are up 36%. That is why the national number is positive. Also, what do you mean there are no jobs. There are more jobs available than people looking for jobs.
Agree, we have a dire economic situation.
THANK YOU FOR BRING ON HARRY TO YOUR SHOW
Harry Deny has been Wrong about Everything for 20 years. Absolutely Hilarious 😂
Is he suggesting we sell our assets for dollars and hold them for a few years? No thanks! Imagine how terrible the purchasing power will be on those dollars 👎
Just keep holding your assets then! Good luck!!
What I have always called the Horrible Housing Hustle should have tanked their prices decades ago, except for the unrelated yet crooked prop up actions of both banks and feds. Neither banksters nor the gubmit should have been in the home biz in the first place. Glad to see that Mr. Dent is telling it like it is - we need a lot more like him. I wouldn't dream of buying the American dream until it drops 60% more.
Love Harry Dent. Thanks Sachs Realty.
Harry is going for the long term and he is right.Real estate will drop soon by 50 % in USA and Canada as well.Just refer back to the mean curves going back 60 Years.As Harry states it’s the lag effect and continues stimulus that has prolonged the bubble from going kaput.For those wanting a home be patient and save your money and you will be rewarded.Dont be a petulant adult child as most people are these days and want everything now.
I got As in my economics classes, but they never explained ‘why’ just ‘how’. It felt like a religion, not science.
But isn't learning "how" something works more like science, and learning "why" something works more like religion?
@@timothyrday1390 I think an artificial framework needs a basis to substantiate it. Economics is not astrophysics. The ‘how’ was strictly within the framework of the economic models, but the model was presented as if ‘this is just how it is’. If economic models are disconnected from measurable reality, between fiction and wishful thinking, what are they worth?
@@timothyrday1390 The 'why' sets the scene for the 'how'. History repeats itself. There are markers leading to a recession/depression. They are the same or similar through out history. Same goes for super powers, there are signs before they fall. THIS is happening to America now.
I think that no one knows even after it happens. I have never even heard better than a nebulous explanation of the Great Depression.
A drop of 50% is too low needs 75%
Congrats on 100K subscribers. You really earned it.
Thank you 🙏
The problem is that the government continues to stimulate the economy with well over a trillion dollars in deficit spending. Not sure when the piggy bank will run dry, but at close to $35 trillion in debt, getting close.
Piggy bank never dries if you have a printer
We’re failing at failing ….😂 I love it! That was great!
Thank you Sir
Mark Of Excellence!
Appreciate It!
Dent also said gold would drop under $500 oz...it's currently over $2300. Dent is a fool
Well....he's not a fool, because, he's sold over 20 million books since 1982, I think!!! But, man, was he(Harry Dent Jr.) ever 'WRONG' when he predicted that "Gold would drop under $500.00 per ounce!!!!!
Harry is right. The problem is when the government has an open credit card with no limit it’s hard to predict when disaster will strike. Just be prepared as much as possible and enjoy the ride while it lasts.
Buy phisical Gold and Silver bullion and coins
This does not scare me. If everybody’s house goes down 50%, including mine what the hell.
Oh Harry… we are in a downturn. A downturn of not recognizing how bad inflation already has been, meaning tangible assets like a house, will actually keep rising.
This confuses me. As from my understanding if GOV prints too much money then inflation goes up, inflation goes up, then interest rates goes up, if interest rate goes up, mortgage interest rates goes up, if mortgage rates goes up nobody buys homes, but every body still needs places to live? So either there is a mass migration or everybody sells and starts renting? When we have millions of americans who bought homes when their was quantitative easing, with near 2% interest rates? Its complex..
I dont understand how a 30 year bond helps?
@@acesupsilver1039 Especially if you are not 20 yrs old. That was a crazy thing to say.
He said at minute 17 that rhe fed doesn't know why they keep stimulus since 2009. They do know, the gov has too much spending and not investing, we not producing as much as we are spending. We have dod that has not been audited for about 10 years straight.
Harry doesn't understand what a safe haven is and gold's role as money for 4,000 year's.
Excellent show. Harry is singing truths.
i am not gonna sit here waiting for the housing crash, i am gonna study hard, go to medical school so i can afford to buy a house.
lol...ya , just wait to see who you compete with in med school....dont even bother
50% is only 2020 prices
This is true. Even 100k off most homes is still not enough. The homes are over priced by 200k and more in Atlanta. New home
2018 250k
2023 550k
For the same house lol😂😂😂
Part of that is just inflation or the devaluing of the US dollar
They've been saying this for 2 years now.
If the inflation too high that causes the housing and stock markets crash. Should hold on to crash to buy who stock market tumble? Many analysts don’t expect residential housing crashes because more demand of housing than supply.
Dent is right.
But he's bad at time predicting . Who isn't?
The problem is he talks with confidence when this shit is going to happen and gets it wrong so often its hard to take him seriously. Its pretty clear we are going to have a credit event at this point, and all you can do is look at history, and the long end would be spring/summer of 25. The problem is oru economy is so centralized its hard to tell when as they paper things over constnatly...until they can't.
Facts are right but it's hard to predict timing when administration kicks cans down the road. Just a matter of time. Bailouts can't fix everything
@@user-os3qm3nb2k that’s why it’s hard to take Schiff seriously. It’s clear economies can handle debt to GDP up 80% before growth starts getting hit. He essentially just wanted to sell fear and become a gold salesman. Now we are actually at the Rubikon but he sounds like boy who cried wolf.
David Hunter weirdly