Peter Schiff discusses real estate prices in his latest video blog, February 24, 2009.
Real Estate prices have to fall to a point to where they’re actually affordable. Prices need to fall to the point where the average American has enough money to put up a 20% down payment. where the average American can actually afford a 30 year loan. And also, where the average American can convince a willing private lender to loan him the money based solely on the collateral he puts up and his own ability to repay the loan. Not with a government guarantee.