Harry Dent - real estate going down next 20 years

[David Hodge]

What is everyone's opinion on Harry Dent? He points out that real estate has pretty consistently gone up over most of our life times because of the baby boomers, but now that they are down-sizing and dying off, real estate will decline over the next 20 years. I think most would agree that whatever the baby boomers touched, turned to gold, since they have been the largest generation. Once they are gone, where will the demand for home ownership come from? Millennials prefer to rent, so unless that changes, who will bring the demand that the baby boomers have provided in the past? Appreciation is critical to building wealth in real estate and without it, building a large rental portfolio is a much slower process. Is the consistent appreciation we've seen in the past over? I'm interested in everyone's opinion on this.