Kiyosaki has spoken - October economic crash coming!

[JD Martin]

Well, I guess we (collectively) are going to see how smart Robert Kiyosaki is, at least when it comes to predictions. On a news program he makes the bold prediction that real estate & the stock market are going to crash hard in October because of money velocity and money printing. The whole interview is below, but his predictions come about the 4:30 minute mark or so. The host prompts him several times for what, if anything, is the trigger for this and he demurs.

Of course, he's looking forward to it because, in his words, "I get to make a lot of money". He also advises taking most/all of your free money and putting it into gold, silver and bitcoin right now (that title is off on the video). He says it's going to be the biggest crash in world history (his words).

Now that I've grabbed you with the clickbait title :) - what do *you* think? Major RE crash in October like Kiyosaki says? 

[Allen McGlashing]

I liked his episode on the BP podcast. He has been saying this for a couple years now. So sooner or later he will be right.

[Justin R.]

Robert is a very smart man and has affected millions of investors for the better. He is intelligent enough to know he doesn't have a crystal ball, but his concepts will sell books and maintain his relevancy. His intelligence is only challenged by his ego. 

[Timothy White]

@Tony Gunter. Although it does get one heard :)

[Howard Chen]

@JD Martin

On a side note, Robert’s youth certainly hasn’t come crashing down. Quite the opposite, he looks younger than he did 10-15 years ago!

[Timothy White]

@JD Martin

Naaahhh! :)

We see and welcome some subtle softening in the multi family arena that makes that space more reasonable for everyone involved

Falling of a cliff ? We don't See it happening in the short term.

The needed softening for all this overheated value or belief in such , is what we are beginning to see and embrace to get back to a more balanced marketplace .

My beer bet for this being prediction flopping hard ,is pretty safe for the October and the near future .

-and man I love beer :)

[James Wilcox]

@JD Martin not happening for many reasons. RK has been off base for a while and has not come up with much original content for a while. He has been predicting a crash for more than a decade. I guess he has to be right sometime but probably not on this one for the reasons he mentioned. If a crash of that size did come would be from us not raising the debt ceiling but I highly doubt that is going to happen. Do love me some early days RK though.

[Tony Gunter]

@Timothy White

Maybe heard, but not listen to. Same as the corner preacher screaming “repent for the end draws near”. Heard, but not listen to.

[Matt R.]

RK is usually a click bait dealio. Silver 10 year down 28%. Gold 10 year up 6%. Factor for inflation and opportunity cost I guess it lost money. Not sure there is much more real estate other than borderline hood stuff that is still under after 10 years. Bitcoin is a forgettaboutit calculator breaking if we are talking % returns. 230% annually compounded or 20,000,000%. Yikes. 

[Ryan Gougeon]

Rental rates in my area are skyrocketing because everyone from up north sick of high taxes is moving here. This migration is showing no signs of letting up and I don't see the politics changing in NY, NJ, CA, IL. That said, owning rentals in FL is almost a can't miss. If I list one of my rentals i'll have more than twenty people apply.  https://www.wfla.com/news/loca...

I do think there will be a correction nationally in the next 12 months, but as mentioned above- people are moving to FL in droves driving up demand for rentals which I believe isn't going to end anytime soon.

[Michael Plante]

https://thecollegeinvestor.com...

https://www.thefastlaneforum.c...