Rich Dad Poor Dad author Robert Kiyosaki has warned that Airbnb will lead the incoming real estate market crash. Noting that many people are worried that the “Airbnbust” is finally here, an economist cautioned that “it could get a lot worse between a looming recession and excess savings about to dry up.”
Robert Kiyosaki on Airbnb and Real Estate Market Crash
The author of Rich Dad Poor Dad, Robert Kiyosaki, warned last week that Airbnb will lead the incoming real estate crash. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.
The famous author posted on social media platform X that he expects Airbnb “to lead real estate market crash.” Kiyosaki added that the best time to get rich is in a crash, noting that for anyone searching for a new home or rental property, “your happy days are around the corner.”
Airbnb, a San Francisco-based company operating an online marketplace for short and long-term property rentals, recently suffered what some referred to as an “apocalypse,” after New York City passed a new law that majorly restricts the company’s business operation.
Economist Peter St Onge explained Sunday on X: “Is the Airbnb boom over? Prices plunge while bookings drop, driving host revenue down 13% amid worries the ‘Airbnbust’ is finally here. And it could get a lot worse between a looming recession and excess savings about to dry up.” He added: “Now, with perfectly bad timing, blue cities like New York, Chicago, and San Francisco are outright banning Airbnb. Scapegoating them for their own policies that strangle housing. And continuing their war on a dwindling middle class.” The economist opined:
Put it together and tens of thousands of people could be left with speculative mortgages they can’t afford, hitting house prices nationwide.
Kiyosaki has warned about a real estate crash for quite some time. In June, he said that the real estate market is on the verge of the greatest crash “ever,” noting that it will be worse than the 2008 financial crisis. Many others have warned about an incoming real estate crash, including billionaire Elon Musk. The Tesla and Spacex CEO said in June: “Commercial real estate is melting down fast. Home values next.”
Do you think Airbnb will lead the upcoming real estate market crash like Robert Kiyosaki has predicted? Let us know in the comments section below.