A Housing Crash Will Soon Hit America

[Guest Christopher Ruddy]

Recently, Sir John Templeton — the world’s most successful investor, billionaire philanthropist, and the man Money Magazine called the “greatest global stock picker of the century” — invited me to meet with him in The Bahamas where he lives. In our private meeting, he personally warned me that a U.S. real estate crash was imminent.

 

And he’s not alone.

 

Former Fed chairman Alan Greenspan had also warned of real estate “froth.” Former Fed Chairman Paul Volcker is warning that “a crisis is likely” in the U.S. economy.

 

Even America’s greatest stock investor Warren Buffett recently sold his California home and warned of dark clouds in the real estate market.

 

For over a year now, we at Financial Intelligence Report have been warning that soaring U.S. real estate prices were unsustainable and that a collapse could soon occur.

 

Now scores of major U.S. and international newspapers and magazines — including the New York Times, Fortune, and The Economist — are echoing those same sentiments on their page-one stories.

 

In fact, The Economist magazine bluntly declared that the current worldwide boom in residential real estate prices is “the biggest bubble in history.”

 

It is important to note that Templeton, Buffett, and Volcker all warned in the late 90s that the dot-com boom was dangerous and unsustainable.

 

Back then, none of the three were given much coverage in papers like the Wall Street Journal, nor did they get any significant airtime on channels like CNBC.

 

But their predictions turned out to be dead-on. And we fear they may be right again.

 

Is this the beginning of a major real estate crash?