Robert Kiyosaki makes catastrophic prediction and recommends bitcoin again

This Thursday morning (8) the well-known writer and investor Robert Kiyosaki published one tweet alarming that provides a housing shortage of catastrophic proportionseven surpassing the global financial crisis of 2008.

According to Kiyosaki, the city of San Francisco, known for its booming real estate market in recent years, will face a dramatic devaluation of 70% of its commercial buildings.

He also questioned the future of these properties in an age of social consciousness (WOKE) and suggested that they be converted into housing for the homeless.

“The biggest real estate crash of all time. 2008 was the global financial crisis (GFC). In 2023, the 2008 GFC looks like nothing. In 2019, office towers in San Francisco were all the rage. In 2023, the same buildings will lose 70% of their value. What will WOKE cities do with office buildings? Homes for the homeless. Buy Gold, Silver and Bitcoin.” said Kiyosaki.

Biggest real estate crash ever. 2008 was the GFC. 2023 will make 2008 GFC look like nothing. In 2019, Office Towers in San Francisco were hot. In 2023, the same buildings will have lost 70% of their value. What will WOKE cities do with office buildings? Homes for the homeless. Take G, S, BC.

— Robert Kiyosaki (@theRealKiyosaki) June 8, 2023

The reasons behind the impending real estate crash

San Francisco is a city recognized as one of the technological centers of the world, home to renowned companies and attracting a highly skilled population.

In recent years, the city has experienced a significant real estate boom, with commercial property prices reaching exorbitant levels. In 2019, office towers in San Francisco were on the rise, attracting investors and real estate speculators looking for lucrative returns.

However, several economic and social changes have taken place since 2019 that could lead to the impending real estate crash predicted by Kiyosaki. There are a few main reasons that contribute to this situation:

Market overestimation: The real estate boom in San Francisco was driven by exaggerated expectations of continued growth and excessive speculation. Many investors overestimated the future demand and absorption capacity of the housing market, leading to high prices.

Demographic Changes and the Pandemic: The pandemic has led to significant changes in work patterns, with an increase in remote working and the mass adoption of the hybrid work model. With fewer people commuting to offices, demand for commercial space has fallen significantly, negatively impacting the value of these properties.

Social awareness (WOKE) and its impact on property use: Social awareness has led to increased concern about inequality and the lack of adequate housing for the homeless.

This shift in perspective can influence the decisions of governments and society in general about the use of downgraded commercial real estate. Kiyosaki’s proposal to convert these buildings into homes for the homeless reflects this emerging trend.

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If Kiyosaki’s predictions come true, the impact on the San Francisco housing market will be significant. The write-down of 70% of commercial buildings will have profound consequences for owners, investors and financial institutions involved in this sector.

Many individuals and businesses may run into financial difficulties and confidence in the San Francisco real estate market may be shaken for a long time.

In addition to predicting the impending housing crash in San Francisco, Robert Kiyosaki also mentioned the recommendation to buy gold and bitcoin in his tweet. These recommendations reflect Kiyosaki’s views on preserving wealth amid economic turmoil and uncertainty.

As on other occasions, Kiyosaki recommended bitcoin as a way to diversify investments and hedge against the devaluation of fiat currencies. In times of crisis, as he predicted, some investors see bitcoin as a store of value similar to gold, but with the advantage of being easily transferable and digitally storeable.