During the summer, there were approximately 23 million Americans without jobs. To put that into perspective, in the double-dip recession in 1982, we had 2.7 million. The early 1990 recessions, 2 million; the dot-com bust, 1.9 million; the great recession, 2.6 million. This is 10 times higher than any other unemployment rate that the US has ever seen. The lockdowns, jobless rate, and the inability for homeowners to pay their mortgage has caused what some are saying will be the biggest real estate crisis in history.
In this Quarantine update, Robert explains this tweet:"REAL ESTATE CRISIS. 6 million homeowners in FORBEARANCE. Sad. Before they can receive stimulus money, they need to qualify for new loan. If they lost job or lost credit they may lose home. Opportunity for investors. Sad news for homeowners business & country. Pandemic must end."
Robert Kiyosaki is best known as the author of Rich Dad Poor Dad, the #1 personal finance book of all time. His book titles hold four of the top ten spots on Nielsen Bookscan List's Life-to-Date Sales from 2001-2008 alone. Robert is an educational Entrepreneur and real estate tycoon, co-creator of the CASHFLOW (R) board game, founder of the financial education-based Rich Dad Company and author of New York Times Bestsellers: Rich Dad's Conspiracy of the Rich, and Unfair Advantage: The Power of Financial Education. Robert Kiyosaki is among the first to have warned Americans of an impending collapse in the US real estate market, famously prophesizing, "Your home is not an investment," years before the Panic of 2008. His latest book is Fake: How Lies are Making the Poor and the Middle-Class Poorer.