Robert Kiyosaki warns of Airbnb and the collapse of the real estate market
“Rich Dad Poor Dad” author Robert Kiyosaki warned last week that Airbnb would lead the housing market's impending collapse. “Rich Dad Poor Dad” is a 1997 book co-written by Kiyosaki and Sharon Lechter. It was on the New York Times bestseller list for more than six years. More than 32 million copies of the book have been sold worldwide, in more than 51 languages and in more than 109 countries.
Kiyosaki posted on social media platform He added that the best time to get rich is during a crash. For anyone looking for a new home or property to rent, “happy days are ahead.”
Airbnb and the fall of the real estate market
Airbnb is a San Francisco-based company that operates an online platform for short- and long-term accommodation rentals. Recently, the company experienced what some have called “the apocalypse” after New York City passed a new law severely limiting the company's operations.
On Sunday, economist Peter St Onge said in an article on are emerging that the ‘Airbnbust' has finally arrived. And it could be worse, with the threat of a recession and the imminent drying up of surplus savings. And added: “Now, with absolutely bad timing, metropolises like New York, Chicago and San Francisco are banning Airbnb altogether. They are making them scapegoats for their own policies that are stifling the supply of housing. And continuing their war against the declining middle class. The economist expressed it this way:
“All things considered, tens of thousands of people could be left with speculative mortgages they cannot afford, impacting house prices across the country.”
Kiyosaki has been warning of a crash in the real estate market for some time. In June, he said the housing market was on the verge of the biggest crash ever and that it would be worse than the 2008 financial crisis. Others have also warned of a future crash of the real estate market, notably the billionaire Elon Musk. The CEO of Tesla and SpaceX said in June: “Corporate real estate will dissolve quickly. Then the value of individual homes.”
Discussion in the comments section
Do you think Airbnb will lead the likely housing market crash, as Robert Kiyosaki predicted? Let us know in the comments box below.