Thursday, January 2, 2014

Housing Prices Still Haven`t Fallen Enough

“Housing prices right now should be considerably below their historic averages. Prices still haven’t fallen enough because the government is still artificially propping them up. We have to let real estate prices fall to the point where people have the 20% down payment and can qualify for a mortgage without the government cosigning it.” in CNBC

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

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