Peter Schiff: Real Estate Prices Will Drop Like Oil

Monday, January 19, 2015
By Paul Martin

by C Serpa
GramsGold.com
1/19/2015

It looks like the real estate market has been stuck for about a year, treading water.

Some people say that this market is going to roll over circa 2008 as the hedge funds and the large institutions start to clear these massive inventories.

According to Peter Schiff, ” The applications for mortgages are down 7%, or about 5% below the levels we were at a year ago .

Even though gasoline prices are a low lower so that might free up some credit spending and credit standards have been loosened so that people can get mortgages with 3% down payments. Despite that, they’re not seeing a pick up in home buying.

I think we are going to see inflation rates higher than that in the 1970s. The first rate hike is not coming at all. If we get more evidence that the economy is bad, in the jobs and the GDP numbers, will the markets go down?

The Rest…HERE

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