Harry Dent, "housing prices have to go back to 1996-2000 levels. That is a 60% drop"

By on January 11, 2009

Andrew Mickey, Q1 Publishing, recently interviewed Harry Dent, author of “The Great Boom Ahead” and “The Roaring 2000’s.” Dent has a new book out titled, The Great Depression Ahead: How to Prosper in the Crash Following the Greatest Boom in History.

Some of Dent’s thoughts from the interview:

  • “stocks have to go back to about 3800″
  • “prepare for the bigger part of the storm between 2010 and 2012 especially 2010.”
  • “this is a long term peak. It’s like 1929 and the stock market… Stocks have peaked for decades and maybe even more than that.”
  • “Where is there growth in the world?” The answer is it is in the emerging countries.”
  • “India has favourable demographics for the next 55 years, give or take, in the future.”
  • “we may see oil bounce back to $80 – $110 and retest its high. Commodities prices have the potential to rally here and inflation prices will tend to come back the surprise is going to be a rebound in inflation pressures and a rebound in commodity prices.”
  • “I think gold and silver are two things to hold for a while. And at least until 2009 and mid to late 2010.”
  • “Oil is so undervalued”
  • “If we see stocks slump down again in the next month or two, which I think is likely, I think stocks will probably go back and retest this bottom, maybe not a new low, but close to it. If we see that then I may want to start to buy emerging markets again and the financials that really got trounced. And also buy things like oil that are extremely undervalued and play a rebound for the next 6-12 months. And then, I’ll look to get really safe and just hold my money in cash and wait for the deflation process.”
  • “Above all, the one thing that we are very clear on is that, in the end, this whole mess ends up with deflation not inflation.”
  • “I like emerging markets short term and then after the next crash they should lead a bigger rebound that should last longer and of course should lead for many decades.”




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