308: Stocks Set To Fall By 80%, Home Prices Surge Above $300K - with Harry Dent
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 31 August 2020
⏱️ 47 minutes
🧾️ Download transcript
Summary
Where are the big investment risks today? Economic forecaster Harry Dent tells us.
Despite pandemic-driven unemployment, tenants are largely paying the rent.
The price of an existing American home is now $304,100, surging 8.5%.
Lumber prices for a new home are up $16K since April. This increases the value of your property's replacement cost.
The new 0.5% adverse market condition fee for refinances is annoying. Learn how to avoid it.
In the pandemic, real estate keeps shining.
Harry Dent is fired up. He joins me to tell us why he thinks most assets are in a bubble: economics and demographics.
His latest book is "Zero Hour".
Baby Boomers find renting to be more acceptable today.
Harry predicts when stocks will fall 80-85%, a crash occurs, and about the profligacy of the Fed printing trillions in the pandemic.
Resources mentioned:
Harry Dent's website:
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Transcript
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| 0:00.0 | Welcome to Get Rich Education. I'm your host Keith Weinhold. The value of an American home just surged 8.5% to break through a new milestone. In the pandemic, more tenants are paying the rent than you might have thought. Then economic forecaster, Harry Dent, joins us to discuss the future of real estate and why he thinks stocks are dropping 80 to 85% in value. Where are all the |
| 0:24.0 | big risks? Today on Get Rich Education. Fortunately for you, Congress has made it possible to get |
| 0:32.1 | up to $200,000 out of your current 401k or TSP to invest in real estate or your own business, and that's |
| 0:39.6 | even if you're still working. |
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| 0:45.4 | The EQRP is your secret weapon. |
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| 0:52.3 | funds now. |
| 0:53.3 | Learn more and text message QRP in all capital letters to 72,000. |
| 1:01.7 | You're listening to the show that has created more financial freedom than nearly any show in the world. |
| 1:09.0 | This is Get Rich Education. |
| 1:25.2 | Here it is. Hey, welcome in to Get Rich Education. Episode 308. I'm your host, Keith Weinhold. There's so much to update you on in the real estate world before we get to our guest, Terry Dent, where he is going to make some predictions and point out why the stock market is poised to fall 80 to 85%. Importantly, the proportion of tenants paying the rent payments |
| 1:47.7 | are near normal levels despite the pandemic-related job losses. There's some good news. This is according |
| 1:54.2 | to the rent payment tracker from the National Multifamily Housing Council. So bear in mind that we |
| 2:00.0 | always need to keep the context of just |
| 2:02.4 | what a statistic means. So this is for professionally managed market rate apartment property. So it's not |
| 2:10.3 | single family rental homes here, but this is a good indicator. Through the 13th day of this month, |
| 2:15.8 | 87% of American apartment households had paid the rent, |
| 2:21.0 | and that is compared to 89% over the same period last year. |
| 2:25.8 | So it's only running 2% less, despite today's higher unemployment rate. |
| 2:31.4 | Yes, that's some good news. |
| 2:33.0 | Now, overall, I don't think that either 87% or |
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