This is a set of clips of Peter Schiff from 2006 and 2007. As you will see, Mr. Schiff took a lot of heat for his prior forecasts. But, now looking back, he was 100% accurate! When it comes to what can be perceived as bad news (even it is very possible) the masses will pooh-pooh the forecaster, and always favor the “It’s always a good time/ a minor rough spot crowd”.
httpv://www.youtube.com/watch?v=2I0QN-FYkpw
To see what Mr. Schiff is currently saying about the US economy and inflation, look for our next blog post.
It’s pretty bad in South Florida, too. I’ve lost about 18% on my home within the last 18 months. Ouch!
I was reading the other day that we’ve lost $2.2 trillion in home equity in the US. That’s a lot of money out of economy.
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If we look at the economic trends along with Real Estate market trends, we can realize that what may seem like a “bad market” for some people is the same market that “big” Real Estate Investors have bought the properties that made them millions. However, there are many people that are getting ready to capitalize on some great investing due to the common sense theory of investing, BUY LOW…SELL HIGH!
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It’s sad, really sad, because the people that are losing these homes have names and faces. They could be your brother, your sister, and your parents. Most of the time, we tend to think that the foreclosures are mainly real estate investors or flippers that are just letting their investment properties go back to the bank, but the reality is there are a lot of families living without homes.
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