Financial expert warns of megacrash: real estate bubble bigger than 2008 - How you can protect yourself! Up to -55% discount on Black Friday!

Financial expert warns of megacrash: real estate bubble bigger than 2008 - How you can protect yourself! Up to -55% discount on Black Friday!

According to a report by de.investing.com, economist Peter Schiff warns of a serious economic crisis and the threat of hyperinflation. He emphasized that the situation is actually much bleaker than the headlines suggest. Schiff pointed out in connection with the latest NFP report that the jobs created were almost exclusively part-time and low-paid jobs. He highlighted that the number of Americans working multiple jobs has increased by nearly 400,000, which is expected to be a historic record.

The increasingly deteriorating labor market situation could have a direct impact on the real estate market. The increasing number of part-time jobs and lower salaries could mean fewer people can afford to buy a property, which could lead to a fall in property prices. Schiff also sees a massive crisis in the banking system, as the banks are making losses with the existing mortgage interest rates and therefore describes the entire banking system as completely insolvent. This could restrict the origination of new loans and mortgages and further impact potential property buyers.

Schiff also spoke about commercial real estate, calling the situation a “total disaster.” The bankruptcy of WeWork and the massive decline in commercial real estate prices could lead to further losses for banks and put a severe strain on the real estate industry as a whole.

Schiff's advice to exit the U.S. dollar and invest in alternative stores of value and real-world assets could lead investors to invest more in other asset classes such as gold, cryptocurrencies and foreign stocks. This could lead to a change in investment behavior in the real estate market as potential buyers and developers diversify their capital more broadly instead of investing it exclusively in real estate. Overall, Schiff's warning of a crisis in the real estate market points to potential changes and challenges for the industry.