Peter Schiff calling the housing market dead on arrival 💀
Mortgage rates still stuck above 7% and he's saying we're looking at sharper price drops than most expect. Not just housing either - he's warning about cascading job losses across all the industries tied to real estate.
His take: this bubble is BIGGER than 2008. And rates? Could keep climbing from here.
Whether you agree with Schiff or not, the macro setup is getting spicy. Housing weakness = consumer weakness = bad news for risk assets.
Watch the data. Fed's not pivoting anytime soon if shelter costs stay sticky.
Mortgage rates still stuck above 7% and he's saying we're looking at sharper price drops than most expect. Not just housing either - he's warning about cascading job losses across all the industries tied to real estate.
His take: this bubble is BIGGER than 2008. And rates? Could keep climbing from here.
Whether you agree with Schiff or not, the macro setup is getting spicy. Housing weakness = consumer weakness = bad news for risk assets.
Watch the data. Fed's not pivoting anytime soon if shelter costs stay sticky.
