Market prophet Gary Shilling issued a raft of dire warnings to investors in an interview this week.
Stocks may crash 30%, a recession is imminent, and commercial real estate is a bubble about to burst, he said.
AdvertisementStocks could crater by 30%, the US economy is careening toward recession, and commercial real estate is a bubble about to burst, a legendary market prophet warned this week.
"I think the biggest bubble right now is commercial real estate.
This isn't of the magnitude of the subprime-mortgage bonanza, but I think it is a bubble which is beginning to crack."
Persons:
Gary Shilling, Shilling, —, Julia La Roche, I've, they've, we're, John Paulson
Organizations:
Service, Federal Reserve