Along with Peter Schiff, I pounded the table on subprime, and the impending spillover into the greater economy. Like Schiff, I, too, was laughed at, ridiculed, and ignored for having such an “under researched opinion.”
Sadly, those that ignored the "under researched opinion" aren’t laughing now, as home values continue to plummet. The NAR, Bernanke, Paulson, realtors, Yun, and the likes of Lereah can’t seem to back pedal fast enough.
Yet, unbelievably, some realtors would have us believe this is the perfect time to buy. But it’s not. The tumultuous downturn of housing and the economy is still snowballing.
Check out the latest video fight between a realtor and Peter Schiff.
Here’s what I had to say about housing and subprime in June 2007.
