Real Estate Threats Abound:
San Francisco Is the Least
of Our Worries…
Harry Dent | April 24, 2019 | There’s been a lot in the news lately about a slowing U.S. property market. According to Reuters, home sales fell more than expected last month. The National Association of Realtors said that existing home sales dropped 4.9%. I’m, in fact, in Australia for the next two weeks – my third visit in 14 months – because real estate prices are cratering. Everyone seems shocked. I’ve been warning of this for a long time now. While scanning headlines at 2 a.m. local time (4 p.m. Eastern – jet lag’s a bitch), I saw several articles about trouble brewing in the San Francisco real estate market. Again, not surprised. One piece in particular caught my eye: “San Francisco at ‘boiling point’ over tech, houses, homeless.” What lights me up like a firework show on Independence Day is that this is news to anyone. Since 2014, I’ve warned that San Francisco is a ticking time bomb. Several times this year alone I’ve pointed out how San Francisco starter home prices are utterly unaffordable. And it’s not just windy city that has this problem. Dozens of cities across the country have nose-bleed real estate prices that only the wealthy can afford. The rest of us suckers are left out in the cold. And up and coming Millennials? They can just forget owning a home in some of those areas. San Francisco and Manhattan… Vancouver… Sydney… Singapore… Shanghai… They’re all poster cities for how rich people can also be dumb people, blindly throwing millions into real estate in the mistaken notion that property prices always go up. Ha! Little do they realize that the bubbles they’re inflating will burst from their own extremes… and that’s where we are today. You practically have to be a millionaire to afford a trailer in San Fran and parts of Palm Beach and other areas. Bursting the Housing Bubble But, as over inflated as real estate prices are in places like San Francisco and Manhattan, as ready to burst as they are, they may not be the trigger for the pain that awaits property owners and investors ahead... READ MORE » | This could devastate millions of Americans  According to Harvard educated economist, Harry Dent, millions of American homeowners are about to be wiped out. It all has to do with a hidden crisis silently spreading across America… one that could cut the value of your home in HALF this year! Click here to find out what it is and what to do to protect yourself. |
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