From 2002 through 2008 while running my website at InvestingInLand.com I warned investors hundreds of times through my newsletter and website articles that real estate prices had gotten way too high, far above their intrinsic values, and that a real estate bubble and crash was inevitable.
Of course, at the same time a rabid wolfpack of get rich quick creative real estate gurus flooded the Internet and late night TV claiming it was the best real estate market in a century and investors who bought properties would make a fortune.
Well, I was right.
They were wrong. These criminals encouraged and presided over the greatest financial loss in history, costing real estate investors more than $10 trillion dollars.
$10,000,000,000,000. A lot of zeros. A lot of ruined lives.
You would think after such a devastating humiliation these slick salesmen of mostly worthless real estate home study courses and seminars would crawl back into the dark holes in the mud that spawned them. But this would actually require a conscience and some shame.
Starting once again in 2008 these very same discredited frauds put away their flipping property home study courses and began pitching foreclosure investing, short sales, and whatever else they could imagine gullible people would buy, proclaiming it was the best real estate market in a century. Look at all the bargains! The low interest rates! All those motivated sellers!
Me? I warned investors that prices were still way too high and a double dip recession was coming, especially in the real estate markets.
Well, once again I'm proven right.
IT'S HERE.
What am I predicting now, beyond of course stagnant and negative investment returns on real estate for at least the next five years?
Another crop of get rich quick creative real estate guru course offerings arriving in your email inbox very soon.
Robert J. Abalos, Esq.
