"A lot of people in California who own $1 million to $3 million homes bought larger and more expensive homes than they really needed. Part of their purchase was for investment purposes, because they assumed values would go up. Now that people have a more realistic outlook on real estate prices, it changes the dynamic. There is very little reason for someone with a million-dollar mortgage on a $700,000 house to struggle to make that payment. More and more people are going to walk away from these homes."
Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.
- Gold: The Rally Will Gather Momentum As The Year Progresses
- U.S. Dollar: The World Has A Lot More Confidence Than They Should
- Video: Confiscating Excess Wealth
- Dow Jones Industrials & Gold Parity
- Video: The Federal Reserve Will Not End QE
- What Is Full Employment To Janet Yellen?
- Momentum Stocks Are Having Trouble
- Quantitative Easing (QE) Is An Euphemism For Inflation
- China: No Evidence That Demand For Gold Will Slow
- Video: The Bullish Case For Gold
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- Comments On Dubai`s Crisis
- The Best Places To Invest
- Stock Picks In The United States
- Peter Schiff On Fast Money: Gold And US Dollar
- Capitalism Is Not The Problem
- The Bigger The Boom The Bigger The Bust
- Obama Has Only Succeeded In Digging America Into A...
- Job Losses Demystified
- Latest Video Interview On CNBC
- The Road To Recovery Is A One Way Street
- Administration Is Neglecting The Capital Investmen...
- People Will Walk Away From Some Houses
- We Are Not Going To Solve The Economic Problems
- The Dollar Will Lose Its Status As A Reserve Curre...
- The Gold Standard
- Peter Schiff On Dateline (Video)
- Gold, Silver And Agricultural Commodities
- Inflation Versus Deflation
- Savings And Interest Rates
- Americans Need To Clear The Inventory Of Unsold Ho...
- CNBC Video Interview
- Live From The Floor Of NYSE
- Fox Business Video Interview: November 4
- Third Quarter "Growth"?
- Short Term Gain And Long Term Pain
- The GDP Growth Is Propped Up By The Stimulus Plans...
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