For anyone over the age of 15, the mere mention of the real estate crash may evoke very bad memories of 2008, the worst global financial crisis in decades.
Despite what many hoped would be an unwelcome memory or lesson learned, a number of recent reports and studies have shown that the United States could soon face a similar scenario again. found.
According to a Jan. 19 report from CNBC, December 2023 was a particularly bad month for the real estate market, with sales plummeting by 6.2% compared to the same month in 2022, the lowest level since 1995.
US housing is prohibitively expensive
Following some well-documented precedents and well-established market logic, declining sales and fears of a crash are certainly not an unintended consequence of the current state of the U.S. real estate sector.
In the final quarter of 2023, real estate firm Redfin released a series of alarming numbers, showing that the average American household will end up earning as much as $115,000, significantly more than the median U.S. household income. concluded that it is necessary to obtain – Buying the average American home.
The report includes a fairly significant increase in home prices (up 15% year-on-year and about 50% since pre-COVID-19 pandemic) reaching up to about $420,000, and that the U.S. The average salary is only half of what it takes to buy a home.
'Rich Dad' Kiyosaki agrees a crash is coming, says it's great for investors
Robert Kiyosaki is a renowned investor and author of best-selling personal finance books.rich dad poor dad” is an established skeptic when it comes to the viability and sustainability of the current financial system.
As recently as January 13, the famous author opined that the US real estate market is not just a bubble, but one that is about to burst.
Kiyosaki says the recent crackdown on Airbnb (NASDAQ: ABNB) apartments in New York City is a harbinger of a coming collapse, as it signals an unsustainable glut of units available on the market. At the same time, it is also the beginning.
But he argued that every crash is an opportunity to make profitable investments at deep discounts, and he painted the impending collapse as a huge opportunity rather than a crisis. Finally, Kiyosaki recommended silver, one of his favorite assets along with gold and Bitcoin (BTC), as a hedge against growing threats.
