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IPFS News Link • Economy - Economics USA

Peter Schiff - Housing Market Will Fall For Many More Years

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The fact the builders are finally letting up is a good thing. They were trying to introduce more supply to an oversupplied market. They have only been doing this because the government was subsidizing them. In addition, the costs to owning a home have been going up. Utility costs, maintenance costs, and taxes are all up. This has lessened the demand for owning homes.

The dollar is at a record low against the Swiss Franc. There has been worldwide political upheaval. People are starting to perceive that there is no quality in the dollar. Usually there is a flight to the dollar during uncertain periods, but not this time. This looks good for other monetary metals like gold and silver.

You certainly don't want to buy the financials or anything related to the real estate market. You might want to short some of those stocks if that's your thing. Real estate will continue to fall nominally, but even more in real terms.