You may or may not have heard of Harry Dent. He is a US demographer who has written quite a few books on property, shares and general financial advice. He is currently touring Australia predicting a catastrophic collapse in property prices; in the order of 50%. Oh and also world stock prices will likely crash by up to 80%, possibly within weeks. Basically, worse than the GFC and possibly worse than the Great Depression.
Harry has form. He predicted a collapse in Australian property prices of 50% in 2014. Also, in 2011 and 2012 by slightly smaller amounts. But he did CORRECTLY call the GFC crash of 2008. Harry sells books that predict doom. And he sells newsletters to subscribers, where he provides advice on all things financial. For instance, he has B1tcoin (Facebook doesn’t like the real word these days) pencilled in for a collapse of 95% of its value.
Harry got things right in 2008. But not this time. The scene is not set for a complete collapse currently. Could it happen ever? Yes. But just like a stopped clock, it’s right twice a day, so don’t necessarily rely on it.
For a detailed look at his predictions by a respected Australian property commentator, click here.