Peter Schiff 1/1/08 - Fox News (discussing real estate)

Morganthsays...

No, don't bore us with facts, I mean numbers. That way we can focus more on your crazy hair/face. Also, you send mixed messages when you tells us now is the time to buy and then also state that, "builders are slashing prices."

thinker247says...

My new boss at the Wal-Mart deli was a realtor last year. Now he sells meat and cheese to people. Maybe he could have a talk with this woman about how it's a wonderful time to buy a house.

I like how she said, "I'm not selling a book, Peter."

That's because nobody would buy it.

deathcowsays...

OK, the annoying blond with the fivehead now has a reserved seat on the one-way mission to Mars I am funding. I've got Tim McGraw and Faith Hill as pilot and co-pilot, and this woman can be the crew oceanographer.

She is truly atrocious by any measure.

eltronsays...

Beverly Hills realtors, eh!? How many empty houses are there in the states now? 1+ million? Sure it's probably a good time to buy, but no one has money...unless they want to slave away to the dollar.

jwraysays...

Fox news is fucking dumb. But it's true that trends in housing prices depend strongly on the location of the house. The nationwide trend does not hold true everywhere.

spawnflaggersays...

The point Peter was trying to make (and I'll bore you with some example nonsense numbers) was even as prices are going down, they are no where near where they should be valued.

Existing home in 1998 = $200,000
same exact home in 2007 = $600,000
same exact home in 2008 = $570,000

Cheerleader says, "OMG OMG OMG, house prices are falling, buy buy buy!"
Peter says, "That house should be no more than $300k now, why would I buy it for $570k ?"
Cheerleader "PETER, ENOUGH WITH THE NUMBERS!"

And the cheerleader was selling something - the notion that it's a good idea to buy a house now - which directly impacts her since she's a realtor. And yes, I have seen smarter walmart employees than this lady.

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