Harry Dent Says Don't Buy Real Estate Until 2042...Oh Boy
Harry Dent, the noted forcaster who likes to make assertive predictions that seem to miss their mark regularly is out with his latest forecast. This guy is cut from the same mold as Rickards and Schiff.
In this video I discuss what Dent is talking about and how he fared in the past. I also explain how painting real estate with a broad brush is dangerous since it is a multi-faceted sector.
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Sure, a lot of boomers move because of weather, but family connections have a big role to play too.
I’m a boomer still in Minnesota. A huge factor for me is a son and two step kids who live here. If they move to warmer climes, I’d follow. But if they stayed and I started having grandkids, I’d have a really hard time moving away.
But I’ll never move to Florida. Tampa seemed like an armpit when I was there on a business trip and I do not want to find an alligator in my back yard. 😅
If you are a fan of Harry Dent check out his chat with Richard Heart from around a year ago.
They made a bet and it seems Richard won (like always lol)
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he's totally right, don't buy real estate, buy Hive instead :P
Markets go up and down. I can't really say whether or not real estate will go down or not but I still see demand for it. People are always moving and it's up to you to find out the better homes/places to put them in.
Posted Using LeoFinance Beta
Some bets never win :)
Summary:
In this video, the speaker discusses the controversial forecasts made by financial experts such as Harry Dent, Peter Schiff, and Jim Rickards. The speaker expresses skepticism about Dent's prediction to avoid real estate until 2042 due to demographic and cyclical factors. The speaker highlights the cyclicality of markets, including cryptocurrencies, and emphasizes the importance of understanding local nuances in the real estate market. They also critique the experts for consistently making incorrect predictions, particularly about inflation and the impact of Federal Reserve policies. Despite acknowledging the potential for a real estate market pullback, the speaker urges caution in following extreme forecasts.
Detailed Analysis:
The video begins with the speaker addressing Harry Dent's recommendation to steer clear of real estate until 2042, prompted by demographic trends. The speaker acknowledges Dent's focus on cycles in markets and demographics but questions the feasibility of such a long-term prediction, particularly in the US where Millennials may offset demographic challenges.
The speaker criticizes forecasters like Dent, Peter Schiff, and Jim Rickards for often being wrong in their predictions, citing examples like Dent's failed 2020 stock market crash forecast. They highlight the cyclicality of markets, noting the inevitable ups and downs in various sectors, including cryptocurrencies.
A discussion on the real estate market ensues, where the speaker emphasizes the local nature of real estate dynamics, citing examples of potential migration patterns within the US and the preference for smaller, more manageable properties by Millennials.
The speaker shares insights on different real estate sectors, predicting potential shifts towards smaller homes and multi-unit properties due to changing buyer preferences. They caution against broad-stroke forecasts and emphasize the need to consider diverse factors influencing property markets.
While acknowledging the possibility of a real estate market pullback, the speaker expresses skepticism about extreme predictions, referencing past failed forecasts by experts like Schiff. They critique the experts' fundamental economic frameworks, particularly their misunderstanding of Federal Reserve policies and the money supply.
Throughout the video, the speaker underscores the importance of evaluating experts' track records and questioning extreme forecasts, balancing caution with a nuanced understanding of market dynamics. The discussion aims to provide viewers with a critical perspective on financial predictions and real estate trends, urging them to approach forecasts with a discerning eye.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.