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August 14, 2008 at 8:46 AM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #256774August 14, 2008 at 8:46 AM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #256956
peterb
ParticipantSchiff paints with a pretty broad stroke, but he’s been fairly accurate for a few years and taken a lot of heat early on when things were rosey and he predicted trouble. But he does lack hard data for a lot of what he predicts. His book is a good example. He should try to be a little more like Marc Faber and get some data to back his conclusions.
Having said this, prices tend to behave like a pendulum and over correct in either direction. So we could go way low before returning to equilibrium. Touching or going beyond 2000 prices does not seem too far fetched. 2009 is going to be an interesting year as unemployment rises and more financial devistation comes home to roost.August 14, 2008 at 8:46 AM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #256960peterb
ParticipantSchiff paints with a pretty broad stroke, but he’s been fairly accurate for a few years and taken a lot of heat early on when things were rosey and he predicted trouble. But he does lack hard data for a lot of what he predicts. His book is a good example. He should try to be a little more like Marc Faber and get some data to back his conclusions.
Having said this, prices tend to behave like a pendulum and over correct in either direction. So we could go way low before returning to equilibrium. Touching or going beyond 2000 prices does not seem too far fetched. 2009 is going to be an interesting year as unemployment rises and more financial devistation comes home to roost.August 14, 2008 at 8:46 AM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #257018peterb
ParticipantSchiff paints with a pretty broad stroke, but he’s been fairly accurate for a few years and taken a lot of heat early on when things were rosey and he predicted trouble. But he does lack hard data for a lot of what he predicts. His book is a good example. He should try to be a little more like Marc Faber and get some data to back his conclusions.
Having said this, prices tend to behave like a pendulum and over correct in either direction. So we could go way low before returning to equilibrium. Touching or going beyond 2000 prices does not seem too far fetched. 2009 is going to be an interesting year as unemployment rises and more financial devistation comes home to roost.August 14, 2008 at 8:46 AM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #257065peterb
ParticipantSchiff paints with a pretty broad stroke, but he’s been fairly accurate for a few years and taken a lot of heat early on when things were rosey and he predicted trouble. But he does lack hard data for a lot of what he predicts. His book is a good example. He should try to be a little more like Marc Faber and get some data to back his conclusions.
Having said this, prices tend to behave like a pendulum and over correct in either direction. So we could go way low before returning to equilibrium. Touching or going beyond 2000 prices does not seem too far fetched. 2009 is going to be an interesting year as unemployment rises and more financial devistation comes home to roost.peterb
ParticipantA famous japanese business tycoon bought a huge number of SFR’s in Santa Rosa, CA in early 1990’s. It didnt make a difference in the market. He rented them until about 2001 and then started to sell them off. But this was after the market had recovered on its own. He had intentionally kept the rents way below market price. So when he went to sell them, the tenants flipped out and got the local govt involved to stop him. Pathetic.
peterb
ParticipantA famous japanese business tycoon bought a huge number of SFR’s in Santa Rosa, CA in early 1990’s. It didnt make a difference in the market. He rented them until about 2001 and then started to sell them off. But this was after the market had recovered on its own. He had intentionally kept the rents way below market price. So when he went to sell them, the tenants flipped out and got the local govt involved to stop him. Pathetic.
peterb
ParticipantA famous japanese business tycoon bought a huge number of SFR’s in Santa Rosa, CA in early 1990’s. It didnt make a difference in the market. He rented them until about 2001 and then started to sell them off. But this was after the market had recovered on its own. He had intentionally kept the rents way below market price. So when he went to sell them, the tenants flipped out and got the local govt involved to stop him. Pathetic.
peterb
ParticipantA famous japanese business tycoon bought a huge number of SFR’s in Santa Rosa, CA in early 1990’s. It didnt make a difference in the market. He rented them until about 2001 and then started to sell them off. But this was after the market had recovered on its own. He had intentionally kept the rents way below market price. So when he went to sell them, the tenants flipped out and got the local govt involved to stop him. Pathetic.
peterb
ParticipantA famous japanese business tycoon bought a huge number of SFR’s in Santa Rosa, CA in early 1990’s. It didnt make a difference in the market. He rented them until about 2001 and then started to sell them off. But this was after the market had recovered on its own. He had intentionally kept the rents way below market price. So when he went to sell them, the tenants flipped out and got the local govt involved to stop him. Pathetic.
peterb
ParticipantInterest only.
Neg Am.
FICO score with undocumented income.
Upside down on your loan walk aways.
Unemployment.If the index is lower, great, but it does not mitigate these issues very well.
Alt-A and prime could be the next leg down.
peterb
ParticipantInterest only.
Neg Am.
FICO score with undocumented income.
Upside down on your loan walk aways.
Unemployment.If the index is lower, great, but it does not mitigate these issues very well.
Alt-A and prime could be the next leg down.
peterb
ParticipantInterest only.
Neg Am.
FICO score with undocumented income.
Upside down on your loan walk aways.
Unemployment.If the index is lower, great, but it does not mitigate these issues very well.
Alt-A and prime could be the next leg down.
peterb
ParticipantInterest only.
Neg Am.
FICO score with undocumented income.
Upside down on your loan walk aways.
Unemployment.If the index is lower, great, but it does not mitigate these issues very well.
Alt-A and prime could be the next leg down.
peterb
ParticipantInterest only.
Neg Am.
FICO score with undocumented income.
Upside down on your loan walk aways.
Unemployment.If the index is lower, great, but it does not mitigate these issues very well.
Alt-A and prime could be the next leg down.
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