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In all the years I interviewed Charles Nenner, he never addressed the "WHY"! He said he knew what was going to happen and when and did not need to know why!
I have been forecasting that Commercial Real Estate would be collapsing and it will drag Housing DOWN with it, Commercial Real Estate is completing. All that fun we had when homes were appreciating 3-4% a month, we were congratulating ourselves at how smart we were...those days are over and the opposite will happen as home prices DECLINE 3-4% PER MONTH!
I still am forecasting property prices to decline. I think Home Prices are not going to rise any further. The upper end, where many sales are all cash, is very active and the weighting may pull the Median and the All-Transaction Index higher, maybe to a new high. If so, it will be the last peak for this cycle.
Office towers are losing their tenants and as such losing their value. The FDIC still has foreclosures from Signature Bank and more will be coming in. These foreclosures are causing HUGE LOSSES with Estimates of $600 Billion in losses. I have seen estimated of $11Trillion in Commercial Properties are at risk.
The RE Cycle is an ASSET Cycle; Commercial Properties are leading the way, and it is inevitable that Housing will follow.
It is time to be very Cautious.
This is my warning to you!
This is just a signpost along the way confirming where we are in the Real Estate Cycle Completion. Fortunes are yet to be made.
If you would like to consult, contact West USA 602-942-4200 and ask for Michael Douville.
Patience is now required. If you purchase now, you risk losing 30% or more that may take 5-10 years to recover.
However, if you are patient for the next 12-18 months, you might be able to have a Life Changing Opportunity.
I am encouraging Investors in Endangered Cities to move their investments to better markets via an IRC 1031 Tax deferred exchange. This is very inexpensive and does not trigger a tax implication.
Schedule an appointment to review your situation.
Let's get ready to invest when the time is right. Contact me to schedule an appointment.
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Classes for Investing are being scheduled in Phoenix, AZ.
Michael Douville's Investment Books:
How To Create A Real Estate Money Machine and Retire With Income:
https://www.amazon.com/Create-Estate-Machine-Retire-Income/dp/0996738517
Real Estate Investing for Beginners:
https://www.amazon.com/Estate-Investing-Beginners-Creating-Generational/dp/0996738533