usnews.com — I chatted with Peter Schiff, the president of Euro Pacific Capital. Schiff, a notorious bear, argued that the government's response to the housing crisis has only made matters worse and that the best way to help the market would be to let home prices fall further.
Jan 23, 2009 View in Crawl 4
vipero00Jan 24, 2009
Why in the world do we want housing prices so high. I'll tell you why, so that buyers will need to borrow every last penny from a banker.1. Decrease interest rates so that borrowers can borrow more.2. Home interest deduction so borrowers think it is smart to borrow as much as possible.Today's houses have become the Dutch tulip bulbs of the 1600s. How the hell are my kids supposed to afford a house with prices bloated to the max?