Australian house prices are falling off a cliff – and China is to blame: Futurist who foreshadowed 9/11 makes a shocking prediction
- Strategic futurist Dr. Richard Hames is not optimistic about house prices
- He said that Chinese money artificially inflates the market, but that has ended
- As a result, house prices in important cities fall between 15 and 20 percent
- He said leaders & # 39; have no time & # 39; to look strategically at the economic future
Strategic futurist Dr. Richard Hames – who successfully predicted 9/11 and the global financial crisis – insists that the Australian housing market will plummet.
The man who was once described by Forbes Magazine as & # 39; one of the smartest people on earth & # 39; told Daily Mail Australia that he & # 39; not optimistic & # 39; is about the property prices of the country.
& # 39; The reason has to do with Chinese money – it has artificially pushed up prices, so housing costs have risen by about 80 percent in Melbourne, and 65 percent in Sydney a few years ago, & # 39; he explained.
Dr. Strategic Futurist Richard Hames (photo) successfully predicted 9/11 and the global financial crisis – now he thinks the Australian housing market will fall
Chinese investors have spent about $ 24 billion on real estate in Australia since 2017, according to website Juwai.com.
Sydney & # 39; s average house price of $ 869,579 is more than 10 times an average Australian full-time salary of $ 83,455, despite a record price drop of 17% over the past two years.
In 1987, a typical suburban home with a back yard cost $ 120,025 – or five times an average annual wage of $ 23,858.
"Beijing is now restricting Chinese citizens from investing internationally, so the market will fall," said Dr. Hames.
Dr. Hames said the housing market will fall because Chinese money artificially drives up prices, but that will not continue
The Australian-born futurist predicted that the housing market would fall between 15 and 20 percent in the two major cities, but said prices are likely to rise in Brisbane and Perth – cities that remain largely unaffected by international investors.
& # 39; I see 15% growth in Brisbane & # 39 ;, he said.
Hames also predicted China – Australia's largest trading partner – and the US is likely to be in recession within the next 12 months.
& # 39; If China continues to limit capital leaving the country and home ownership continues to fall, local investors continue to withdraw from the housing market due to low rental returns and expect a greater crash.
& # 39; That crash will become inevitable when the world enters a new financial crisis – and all signs are at the moment (pointing to that happening). & # 39;
Dr. Hames also said that world leaders have access to the publicly available data that he uses to predict future trends in the global economy, but they are not interested in doing and have & # 39; no time & # 39 ;.
The Australian-born futurist predicted that the housing market would fall between 15 and 20 percent in Sydney and Melbourne
& # 39; It takes work and they don't have the time when all their administrative duties have filled their days, & he said.
& # 39; We need to change the shared worldview regarding what is important and redefine leadership in that context. But there is no time for such work.
& # 39; The world has become so complex that most leaders are out of their depth.
& # 39; They are missing a relevant toolkit and are not in the mood to learn a new toolkit, because as leaders they need to know them and have the answers. & # 39;
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