Always up to date with the latest of Jim Rogers, John Stossel, Marc Faber, Peter Schiff and Ron Paul!
Does Peter schiff makes it own videos now?
he announced it a few times on the radio that he wanted to commet on the markets more frequently than possible through his text commentaries.I hope he really does that next time. he gets a little bit too political in my view. I don't need peter schiff to tell me what the government is doing isn't good.
Peter - great stuff. I personally think that the lowest priced homes on the market should never be more than say, three times the average wage, such that first time buyers can actually get into the market with an affordable 10% downpayment and affordable repayments over say, 25 years. If they are priced out of the market, then, houses in general could be assumed to be overpriced. Today, if the govt. helps sustain the bubble, three will be no new homeowners: too expensive = overpriced. Surely, in a free market, people would make houses that first time buyers could afford. The banks should not be allowed to lend them ridiculous amounts to buy over priced houses.RMJ Atkinson, New Zealand
Just listened to your latest blog - and I agree about having a reasonable sized %age downpayment and affordable housing for credit worthy buyers. Just a thought, maybe someone could come up with some kind of index that shows how much a cheap home costs for a first time buyer, and likewise for a mid-market bracket home etc. For example, taking this year as 100, you could come up with a table that shows the cost of a similar home vis-a-vis the average wage over the last 100 years (a lot of work, of course). Such a table would show how big bubbles are and how vulnerable, or advantaged, you would be to jump into the market at any given time. I am not in finance, and do not own a home - I rent, and shall stay that way for now - but I would like to know the true situation.RMJ Atkinson, NZ.